Markets

Bitcoin crashed back beneath $16,000 on Monday, marking another 2-year low of $15,588.  Bitcoin began to show weakness at $16,000 at roughly 16:30 UDT, when the price briefly wicked down to $15,917. The asset then recovered to roughly $16,000, before crashing again to $15,588 at 19:45 UDT.  Ethereum also collapsed below $1,100 to just $1,084 at the time. The last time Bitcoin’s price touched these lows was in early November 2020, prior to Bitcoin’s bull market run that took...

Bitcoin miners are selling their coins at a record pace after the top cryptocurrency by market cap fell to its lowest price in 2022 this month.  According to Charles Edwards – founder of Capriole fund – Bitcoin miner sell pressure has skyrocketed by 400% within 3 weeks alone.  His data is backed up by a similar finding from Glassnode, which showed total miner balances plummeting to a 10-month low this week. Their holdings are now worth roughly $30.4 billion, representing...

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Stellar lumen price started a fresh decline from the $0.1000 resistance zone against the US Dollar. XLM price is now trading below $0.0950 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $0.090 on the 4-hours chart (data feed via Kraken). The pair could continue to move down if it breaks the $0.0840 and $0.0800 support levels. Stellar lumen price is trading below $0.1000 against the US Dollar, similar to...

Ripple price started a fresh decline from the $0.4000 resistance against the US dollar. The price is now trading above $0.3880 and near the 55 simple moving average (4-hours). There was a break below a connecting bullish trend line with support near $0.3875 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could continue to move down towards the $0.320 support in the near term. Ripple price is struggling below $0.400 against the US Dollar,...

The fallout from FTX’s collapse has been devastating, and the market is poised for more losses. But according to a recent report by DappRadar, Web3 remains resilient. Centralized services are on the losing side. With the contagion unfolding, the decentralized finance (DeFi) sector, too, has been impacted. But the user activity in the sector appears to be returning to levels from the previous month. State of DeFi According to a recent Dapp Radar report shared with...