Markets

It was another eventful week in the cryptocurrency space, with BTC soaring to a new 19-month peak six days ago before facing retracements and rollercoaster propelled by industry vulnerabilities. It all started just after CryptoPotato’s previous Market Update on Friday. Just hours later, the primary cryptocurrency initiated an impressive leg up that resulted in breaking above $44,000 and hitting $44,700 for the first time in over a year and a half. That was a noteworthy...

In response to the overwhelming demand, Solana Mobile announced that the phone will be restricted to one device per household to ensure broader community participation in the Saga experience. The frenzy surrounding Solana‘s crypto phone has reached a fever pitch after struggling to catch investors’ attention since its debut on May 8, 2023. The move comes as memecoin enthusiasts scramble to capitalize on the meteoric rise of a fast-rising memecoin, Bonk (BONK), which has surged an...

Dubbed Gaudi3, Intel intends to attract generative AI companies like OpenAI away from Nvidia and bolster its stock market performance. Intel Corp (NASDAQ: INTC) stock closed Thursday trading at $45.18, up 1.37 percent from the day’s opening price. Although Intel has been on a winning streak since the calendar flipped in January, the company is not satisfied with the performance as its rival Nvidia Corp (NASDAQ: NVDA) has more than tripled its valuation year-to-date. As a result, Intel has...

Bitcoin cash is eyeing a fresh increase above the $242 resistance against the US Dollar. The price is now trading below the $245 zone and the 55 simple moving average (4 hours). There is a key contracting triangle forming with resistance near $238 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase). The pair must clear $238 and $242 to start a fresh increase in the near term. Bitcoin cash price is consolidating gains above $230 against the US Dollar,...

Goldman Sachs (GS.N) is gearing up for a significant increase in the trading of blockchain-based assets within the next one to two years, signaling a major evolution in digital asset markets. According to a Reuters report, Mathew McDermott, the bank’s global head of digital assets, stated that the Wall Street giant is not only preparing for a surge in trading volumes but is also witnessing a rising tide of interest in cryptocurrency derivatives among its clients. McDermott...

Traders of digital assets typically fall into two categories: those seeking quick returns and those who relish the journey over immediate gains. Despite initial excitement, there is a noticeable shift among investors, moving away from viewing cryptocurrencies as a quick-profit avenue. Instead, they are turning their attention to assets with enduring value. Long-term potential is particularly anticipated for projects like Cardano and Dogecoin. Meanwhile, the Pullix token,...

Binance surveyed 1,172 of its registered users in jurisdictions where it is allowed to operate and found that 45 percent rely on crypto to earn an extra income. Binance Holdings Ltd, the leading cryptocurrency exchange by daily traded volume and globally registered users, recently surveyed its registered users to understand top use cases for crypto assets. Notably, the cryptocurrency exchange conducted the survey on 1,172 randomly distributed in Asia, the Middle East, Europe, Africa, and...

Although the price spikes following the Fed announcement cleared recent bearish drawdowns and provided support levels, uncertainty remains over the sustainability of the increases. The prices of major cryptocurrencies, including Cardano (ADA) and Solana (SOL), have seen fluctuations around the latest Federal Reserve announcement on interest rates. On December 13th, 2023, the Fed decided to keep rates within a target range of 5.25–5.50%, leading to an initial boost in the price of Bitcoin...

Solana, the blockchain network hosting Bonk, has experienced an impressive run in 2023. Earlier this month, SOL saw a remarkable 50% jump in just a few days, indicating a strong bullish trend.   The crypto market is seeing another boom in the altcoin space as Solana-based memecoin, Bonk (BONK), witnessed a 40% surge in the past 24 hours following the announcement of its listing on the prominent exchange, Coinbase Global Inc (NASDAQ: COIN). This development positions BONK as the...

The crypto market responded positively to the FASB announcement, with Bitcoin’s price rising over 4.12% to $42,979 following the guidance release. The Financial Accounting Standards Board (FASB), the US entity responsible for detailing how companies report assets on their balance sheets, has introduced new standards allowing corporations to measure Bitcoin (BTC) and other crypto assets at fair value. FASB’s Shift Towards Fair Value Measurement This marks a departure from the previous...