Markets

Despite a predictable slump in the crypto market on Boxing Day, one contrarian token rallied – jumping over 22% in just 24 hours. We’ll dive into the specifics of MATIC’s dramatic price appreciation, as well as a new altcoin that’s also forecast to see significant gains in the near future. Christmas Comes Late for Polygon HODLers Within 24 hours, MATIC (Polygon) jumped from $0.86 to $1.06 and a current market cap of $10.1 billion, placing it 12th among cryptocurrencies live...

The “smart money index”, which measures the net bullish bets by institutional players through Chicago Mercantile Exchange (CME) Bitcoin futures, has reached an all-time high of over 13,700 in recent days. Large investors have taken large long positions in the Bitcoin (BTC) futures market, indicating that institutional capital is flooding into the coin in anticipation of the SEC potentially approving a spot Bitcoin exchange-traded fund (ETF). Meanwhile, Bitcoin is trading today at around...

2024 could be a slower year for the business landscape in the US economy, however, many economists are positive that the US recession could be thwarted with a soft landing. Bulls made a strong comeback this year in 2023, and as the year ends, the Fed has given major signals of interest rate cuts in 2024. This has kept the markets upbeat and investors bullish on Wall Street. Does this mean that the US economy is completely out of the woods? Well, not entirely as economists share mixed...

The Binance Smart Chain has also witnessed a 7% increase in the number of addresses engaging with its dApps over the past 30 days. On December 26, the native cryptocurrency of the Binance Smart Chain registered an 11% increase in price, reaching its highest value since June. This pattern reflects a continuation of the trend that began last week when the price surged from $233 to $277, an 18% increase, before closing around $264. Although the price is currently experiencing a minor...

In addition to top executives stepping aside from the board of directors, Grayscale Investments also filed an updated spot Bitcoin ETF application with the SEC on Tuesday. Top cryptocurrency investor Grayscale Investments LLC has been preparing to offer spot Bitcoin exchange-traded funds (ETF) in a bid to widen its market share. On Tuesday, the company made several moves to ensure an imminent approval of spot BTC ETF, which is anticipated to happen in the next few weeks. Grayscale...

Solana price started a strong increase above the $88.00 resistance against the US Dollar. The price is now trading above $100 and the 55 simple moving average (4 hours). There is a connecting bullish trend line forming with support near $100 on the 4-hour chart of the SOL/USD pair (data feed from Coinbase). The pair must clear $115 and $120 to continue higher in the near term. Solana price is trading in a positive zone above $100 against the US Dollar, like...

Bitcoin price started a downside correction from the $44,400 zone against the US Dollar. The price is now trading below $43,200 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $43,000 on the 4-hour chart of the BTC/USD pair (data feed from Coinbase). The pair could start a fresh increase if it stays above the $40,500 support zone. Bitcoin price is correcting lower below $43,200 against the US Dollar. BTC...

Uniswap has seen substantial growth over the last week following the implementation of various features on the platform, such as Rootstock, an Android mobile wallet app, and extended capabilities to other blockchains. Uniswap’s native cryptocurrency, UNI, has also experienced a notable surge during the recent crypto bull market, witnessing a 22% increase over the past week, rising from $5.75 to $7.05. Uniswap Experiences Massive Growth Beyond financial gains, Uniswap has...

CryptoQuant’s recent analysis points to an interesting trend in the crypto market, specifically the overheating of the Korean premium. The high values of the Korean premium are interpreted by the on-chain intelligence firm as a potential indicator of strong buying pressure from Korean retail investors. While a high Korean premium might be interpreted as a sign of bullish sentiment, this index is also frequently used to identify potential price tops. Overheated Korean Bitcoin...

Ethereum’s recent surge in momentum encountered a significant obstacle upon reaching a pivotal resistance area, encompassing the upper boundary of a multi-month wedge and the static resistance at $2.4K. Despite this, the emergence of a head and shoulders pattern suggests an impending retracement towards the $2K support zone. By Shayan The Daily Chart Ethereum witnessed a robust uptrend, achieving an annual peak of $2.4K, underscoring the prevailing influence of buyers in the...