Markets

Bitcoin price started a consolidation phase below the $36,000 zone against the US Dollar. The price is now trading above $34,500 and the 55 simple moving average (4 hours). There is a key rising channel forming with support near $34,600 on the 4-hour chart of the BTC/USD pair (data feed from Coinbase). The pair could continue to rise if it stays above the $33,750 support zone. Bitcoin price is showing positive signs above $34,000 against the US Dollar. BTC might...

Ava Labs, a crypto startup and the leading developer of the Avalanche blockchain has laid off 12% of its workforce amid the persistent bear market. The company’s founder and CEO, Emir Gün Sirer, confirmed the job cuts on X, stating that the move would allow the management to reallocate resources to the growth of the firm and the expansion of the Avalanche ecosystem. Ava Labs Slashes Headcount “Bear markets are difficult to navigate,” said Sirer, adding that Ava Labs is lucky...

Coinbase, America’s largest cryptocurrency exchange, announced its plans to end support for Bitcoin SV (BSV) on its platform. This decision comes more than two years after the exchange initially delisted BSV from trading. Coinbase Sets Deadline for BSV Withdrawals According to the announcement, Coinbase will cease to support the BSV asset as of early next year, and users are urged to take action before January 9, 2024, to safeguard their holdings. The notice stated, “Users...

TL;DR Shiba Inu (SHIB) has surpassed Bitcoin Cash (BCH) in market capitalization, ranking as the 18th largest cryptocurrency with nearly $5 billion in value. SHIB experienced a price rally, increasing around 5% in 24 hours and 12% over two weeks, outperforming major cryptocurrencies like BTC and ETH, which have shown more stability in their price movements. The SHIB surge is potentially influenced by the development of Shibarium, a layer-2 solution aimed at reducing...

By Shayan Bitcoin’s recent price movement indicates a struggle between sellers and buyers around the significant $35K resistance area, resulting in consolidation with slight volatility. However, a bullish breakout at this level holds the potential for a substantial uptrend. The Daily Chart Upon analyzing the daily chart, Bitcoin has maintained a noticeable uptrend since the beginning of 2023, trending in an ascending channel pattern. The price recently reached the critical...

While WisdomTree is expanding its investment options with Bitcoin, the asset manager has also decided to liquidate five of its ETFs. WisdomTree, one of the major players in the financial industry, is considering the addition of Bitcoin (BTC) as part of its commodity exchange-traded fund (ETF), providing its customers with exposure to the crypto market without direct investment in the asset. According to a recent document released on Tuesday, the company proposed allocating around 5% of the...

According to Ava Labs CEO Emin Gün Sirer, the cuts were necessary to restructure and reallocate resources in the ongoing crypto bear market. The cryptocurrency job market continues to face issues with layoffs amid the challenges and uncertainty of the crypto bear market. One of the recent ones is the recent sack of 12% of the Ava Labs workforce. Ava Labs is the team behind the popular Avalanche blockchain. The 12% cut in the crypto giant’s staff represents at least 40 employees. According...

Kraken neither confirmed nor dispelled the rumor. Reports suggesting that US-based crypto exchange Kraken is seeking partnerships to enable it to develop its own Layer 2 network solution have emerged. Per the report, the exchange is considering a partnership with Polygon, which is noted for its Ethereum scaling solutions, to build its Layer 2 network. Matter Labs and Nil Foundation are also being appraised for the role. According to unnamed sources. Kraken will partner with one of the...

Floki’s team of developers have their eyes set on capturing a significant percentage of the global asset tokenization market. Popular meme coin FLOKI was first introduced in 2021 after being originally inspired by Elon Musk’s pet Shiba Inu. Since then, it has gone on to establish itself as a major decentralized finance (DeFi) project. For context, the coin is currently seeing tremendous activity with over $55 million worth of FLOKI held up on the blockchain’s staking platform within a week...

The listing of ORDI token on Binance comes with a Seed Tag hinting at elevated levels of risk and volatility compared to other listed tokens. In the latest announcement on Tuesday, November 7, Binance will list Ordinals (ORDI) on the platform while introducing spot trading pairs such as ORDI/BTC, ORDI/USDT, ORDI/TRY. Furthermore, Binance also announced that they would be applying a Seed Tag to ORDI. Ordinals is a new inscription protocol on the Bitcoin network. The total supply of Bitcoins...