Markets

Bitcoin has finally surpassed the 100-day moving average, which has been the most powerful resistance to the price for the last five months. After a short-term period of consolidation, the cryptocurrency went through another spike, returning the bullish sentiment to the market. However, Bitcoin is soon to confirm a bullish trend reversal as the price has reached a significant resistance region and marked multiple bearish signs in lower timeframes. Technical Analysis By...

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Stellar lumen price started a fresh decline from the $0.1165 resistance zone against the US Dollar. XLM price is now trading below $0.1110 and the 55 simple moving average (4-hours). There is a key contracting triangle forming with support near $0.1095 on the 4-hours chart (data feed via Kraken). The pair could continue to move down if it breaks the $0.1095 and $0.1080 support levels. Stellar lumen price is trading below $0.1120 against the US Dollar, similar to bitcoin....

Ripple price started a fresh decline from the $0.5100 resistance against the US dollar. The price is now trading above $0.4670 and near the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near $0.4610 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could start a steady increase if it stays above the $0.4600 and $0.4500 support levels. Ripple price is struggling below $0.500 against the US Dollar,...

Last month was quite spooky for the crypto industry as it saw the highest number of DeFi hacks this year.  While October was expected to be “Uptober,” it quickly turned to “Hacktober” as cyber criminals ransacked top crypto projects for hundreds of millions of dollars.  Hackers Steal $760M From DeFi Protocols A recent tweet by the blockchain security company PeckShield pointed out that October was the biggest month for hacking activities this year. The DeFi market suffered...

In the aftermath of the crypto winter, which erased billions of dollars from the industry after last year’s rally to an all-time high, many firms have significantly reduced their headcounts over the past few months to cut operational costs.  This may not come as a surprise due to the impact of the bear market, which forced several big companies, including Three Arrows Capital (3AC), Voyager Digital, and Celsius Network, into bankruptcy.  The Crypto Job Cut Trend While some...

It’s happened again, folks. Another hack is in the books. This time, the victim is Mango Markets, a trading platform situated atop the Solana blockchain. At the time of writing, it appears as much as $116 million has been stolen through what’s known as a “flash loan” attack. Mango Markets Loses More Than $100 Million This kind of attack happens in a decentralized setting. A hacker or cyberthief takes out a flash loan and then manipulates crypto prices on a single...

Despite getting stopped at $21,500 and retracing by a few hundred dollars, bitcoin has still managed to stay above $21,000. Most altcoins are calmer today on a daily scale, while Solana jumped to a two-month high at almost $40. Bitcoin Still Above $21K The start of November brought a lot of volatility for the primary cryptocurrency, mostly coming from US-related events. It began on Wednesday when the Federal Reserve said it will raise the key interest rates by 75 basis...

Bitcoin initiated another leg up in the past 24 hours and charted a new two-month high. Several altcoins have also marked impressive gains in the past 24 hours, including MATIC, which tapped $1.2 earlier today. Bitcoin’s New Local Peak The primary cryptocurrency went through enhanced volatility at the start of the month, as CryptoPotato warned before, following events coming from the United States. At first, the Federal Reserve hiked the interest rate by 75 basis points,...

The issuer of the stablecoin USDC – Circle – announced investing in the Circle Reserve Fund to manage a portion of the USDC reserves. The SEC-registered fund was set up by BlackRock, and its portfolio will consist of cash and US Treasury funds. Circle Reserve Fund The government money market fund was created in partnership with the asset manager. According to the official blog post, it will only be available to Circle. The process of moving the reserves for its USDC...