Markets

Litecoin started a fresh decline below the $75 zone against the US Dollar. LTC price is now trading below $72 and the 55 simple moving average (4-hours). There is a crucial bearish trend line forming with resistance near $68.20 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair could struggle to clear the $68 and $70 resistance levels in the near term. Litecoin price is struggling below $72 against the US Dollar, similar to bitcoin. LTC price...

Leading cryptocurrency exchange Binance has announced that it is changing the burning mechanism for Terra Classic (LUNC) trading fees. According to the exchange, the changes are in response to two controversial proposals – Proposal 10983 and 11111 – where LUNC burn is being re-minted as a development fund. Binance Makes Changes to LUNC Burn Mechanism As part of the changes, Binance said it would reduce its LUNC spot and margin trading fees from 100% to 50% starting December...

Wading through the wreckage of FTX and Alameda, it is clear that some communities were hit a lot harder than others. Several DeFi protocols sporting close ties with the two entities have suffered. Solana, for one, has been hit the hardest since the collapse. The once top 10 market cap asset, SOL has slid to the 17th position, and the struggle may continue in 2023 as well. Solana FUD Solana (SOL) had an impressive run-up last year and was one of the best-performing tokens of...

Cryptocurrency investor Avraham Eisenberg has been arrested in Puerto Rico on charges of commodities fraud and manipulation for allegedly stealing more than $100 million from decentralized finance (DeFi) protocol Mango Markets. This marks the first time a U.S. resident has faced charges for manipulating a DeFi platform. Eisenberg Drains $110M from Mango Markets Recall that Eisenberg admitted that his team used a “highly profitable trading strategy” to drain Mango Markets of...

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Bitcoin’s price has been oscillating in a very tight range heading into the new year’s holidays, offering little clue on the direction of the next significant move. Nevertheless, the market remains in a very decisive area, and its fate could be revealed in the next few days. Technical Analysis By: Edris The Daily Chart On the daily chart, the price has been grappling with the 50-day moving average around the $16,700 mark for a while now but is yet to break it in any...

Things are not looking good for XRP as its price has failed to reclaim a significant resistance level and seems likely to drop lower. The market is currently struggling to remain in a range, and it could initiate the next bearish leg down. Technical Analysis By: Edris The Daily Chart: On the daily timeframe, the price has failed to reach the $0.43 area again, as the bullish rebound is seemingly coming to an end. The 50-day moving average is currently acting as a critical...

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Tron price started a fresh decline from the $0.0558 level against the US Dollar. TRX price is now trading below $0.0550 and near the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.0540 on the 4-hours chart (data feed via Kraken). The pair could continue to move down if it breaks the $0.0533 support zone. TRON price started a fresh decline below the $0.0550 against the US Dollar, similar bitcoin. TRX price could...