Markets

On August 27, Jordan Belfort, the man that inspired the award-winning movie The Wolf of Street, said during an interview with Yahoo Finance that he was wrong when he claimed that the price of Bitcoin would reach Zero. As Belfort put it, when he made that claim in 2017, he “hated cryptocurrencies” because the market was surrounded by scams. This has been slowly changing over the years but remains an adverse effect of decentralization. “At the time that I really hated crypto, I...

Before the world was hit by COVID-19, crypto assets such as Bitcoin and Ether showed little correlation with financial markets. Post-pandemic, the lines have become increasingly blurry. In a new blog post, IMF economists said several Asian countries have fiercely adopted digital assets in the last couple of years while highlighting the need for regulation. The organization noted that digitalization can prompt a much-needed shift to an environmentally-conscious payment system...

Ripple has experienced a long-term downward trend for over 500 days. April 14, 2021, marked the last day the bulls dominated the XRP market and recorded a local high of almost $2. Since then, the price of XRP has been down by 80%. Recent attempts by the bulls to start a rally have also failed. Technical Analysis By: Grizzly The Daily Chart On the daily chart, the XRP price is down 13% from the monthly high of $0.386. This drop caused the pair to slip below the 20-day, 50-day,...

Amidst the weekly candle close, Bitcoin’s situation continues to be bearish, following a considerable lack of demand in the market and the macro event. The price has recently plummeted towards the critical support level at $18K. Will the bears eventually break down the key level, or is bullish correction inbound? Technical Analysis By Shayan The Daily Chart The price of BTC has experienced another significant decline of roughly 8% in 24 hours after breaking below the 50-day...

The extensive report published recently by crypto auditing firm Elliptic shows the methods used by cybercriminals to misappropriate and profit from the immense hype generated by NFTs, extolled for the benefit of wary consumers. Between phishing, scam projects, stolen and plagiarized NFTs, market manipulation, and rugpulls, the total value of financial crime connected to NFT trading adds up to over $100 million, with an average of $300k for every instance of monkey business....

A recent survey carried out by Pew Research Center estimated that 46% of American cryptocurrency investors think their entrance into the market has done worse than expected. Only 15% admitted their investments have turned more successful than initially thought. The study further disclosed that the share of crypto investors in the US had remained relatively the same compared to figures from September last year. The lack of significant changes comes despite the fact that...

After yesterday’s price plunge towards and beneath $20,000, bitcoin has stalled and struggles to remain above that coveted line. The altcoins also suffered quite a bit at the start of the weekend, and most sit calmly now. Bitcoin Fights for $20K The previous week was particularly harmful to the primary cryptocurrency, which dumped by more than $4,000 in less than seven days to a monthly low of around $21,000. It spent most of this past week around that level, trading...

INTERNET CITY, DUBAI, Aug. 26, 2022 – LBank Exchange, a global digital asset trading platform, will list NutsPayToken (NUTSPAY) on August 29, 2022. For all users of LBank Exchange, the NUTSPAY/USDT trading pair will be officially available for trading at 16:00 (UTC+8) on August 29, 2022. Revolutionizing Cambodia’s economy with blockchain, NutsPay builds a new financial system to support the cashew nut market in Cambodia. Its native token NutsPayToken (NUTSPAY) will be...

Just like the traditional markets, the crypto markets reacted badly to yesterday’s speech by Powell. Following the announcement of the continuation of the hawkish policy of the Federal Reserve, the market sentiment is bearish. Yesterday’s selloff caused Ethereum to lose more than 12% in under 24 hours. Is more pain incoming? Technical Analysis By: Grizzly The Daily Chart The price of Ethereum fell sharply against the US dollar and Bitcoin yesterday. The short uptrend that...

The International Monetary Fund (IMF) is concerned about the crypto space after the collapse of both Luna and Terra USD. The IMF Is Worried About Ongoing Crypto Use The latter was an algorithmic stable currency that lost its peg a few months ago. This resulted in not only the coin and its sister asset Luna collapsing completely, but investors ultimately losing billions of dollars overnight. The IMF said in a recent interview that this likely won’t be the only time...