Markets

Memecoins have been a part of the crypto culture for almost as long as the community existed, but 2020 and 2021 saw them soar to a whole new level. It got to a point where two memecoins – Dogecoin (DOGE) and Shiba Inu (SHIB) became frequent members of the top-10 club (the 10 largest cryptocurrencies by means of total market capitalization). The bear market of 2022 has impacted most memecoins severely, but DOGE and SHIB continue to be leading coins. That said, there’s a new...

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The Grayscale Ethereum Trust (ETHE) has fallen to a record discount of -60% as fears over liquidations mount. The discount to net asset value (NAV) had been between -25% and -35% up until early November when FTX collapsed. It has since plummeted to its lowest-ever level this week. The Ethereum Trust is the firm’s second-largest, with $3.7 billion in assets under management (AUM). It holds around 3 million ETH, which is about 2.5% of its total market capitalization. The ETHE...

ADA price seems to be forming a support base above the $0.24 level against the US Dollar. The price is now trading above $0.250 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.270 on the 4-hours chart (data feed via Bitfinex). The price could gain bullish momentum if it clears the $0.270 and $0.30 levels. Cardano price is showing positive signs above $0.250 against the US Dollar, similar to bitcoin. ADA price...

Ethereum price is slowly moving higher from the $1,180 level against the US Dollar. ETH price is now trading above $1,180 and the 55 simple moving average (4-hours). There is a major bullish trend line forming with support near $1,195 on the 4-hours chart (data feed from Coinbase). The pair could start a decent increase if it clears the $1,250 resistance zone. Ethereum price is struggling below $1,250 against the US Dollar. ETH/USD could start a decent increase if it...

Erik Voorhees – CEO of ShapeShaft and an outspoken proponent of bitcoin – believes it could take between six months and three years before the next crypto bull run occurs.  He also predicted that the primary cryptocurrency could surge to $40,000 by the summer, representing a 140% increase compared to current valuations. ‘It Won’t be Ten Years’ In a recent interview for Bankless Shows, Voorhees argued that the reigning crypto winter will not last for another decade. However,...

Ethereum Name Service (ENS) clocked in over 2.2 million domain names in 2022 despite the devastating turmoil in the crypto market. This also represented nearly 80% of all of the domains created since its inception. Data from Dune Analytics revealed that the Ethereum-based distributed domain name service registered more than 2.82 million names as of January 2nd. ENS domain name purchases are made with Ether tokens. With the fall in the price of the crypto-asset significantly...

One of the largest pharmacy chains in Ukraine – ANC Pharmacy – joined forces with Binance to enable customers to pay for medical products and supplies in cryptocurrencies.  The exchange has provided its services to the war-torn country numerous times over the past several months. It donated $10 million worth of digital assets to Ukraine shortly after the launch of the Russian “special military operation” and introduced a crypto card designated for Ukrainian refugees. Buying...

Binance, the world’s largest and most popular digital currency exchange, has announced a new program that will give all current and future crypto investors proof of its present bitcoin and Ethereum reserves. Binance Tries to Show It’s Not Like FTX The goal is to shed light on the issue of transparency and show the company is nothing like FTX, the now failed digital currency exchange that came to fruition only three years ago in 2019. Binance was initially in line to...