Markets

According to a research handled by the large digital asset platform Huobi Group, nearly 7 in 10 crypto holders entered the market in 2021. Despite the rising interest in the asset class, approximately 25% of the participants believe “it’s all a scam/bubble,” which is going to collapse, the survey estimated. 7 in 10 Entered The Crypto Ecosystem Last Year Huobi’s poll consisted of more than 3,000 people. The company conducted it in mid-December 2021, while the results were...

CoinGecko’s 2021 report noted that DeFi managed to branch out from Ethereum onto other chains at a rapid pace. The NFT market, on the other hand, saw a meteoric rise thanks to the complementary areas of metaverse and GameFi. Drastic Fluctuations In DeFi Ecosystem According to the latest report by CoinGecko, the market cap across the decentralized finance protocols grew by 7.5x from $20 billion to $150 billion in 2021. Its dominance has more than doubled from 2.8% to an...

After yesterday’s drop to sub-$42,000 levels, bitcoin bounced off and spiked to around $43,000. Most altcoins are slightly in the green as well on a daily scale, with BNB nearing $500 and more impressive gains from Litecoin and ATOM. Bitcoin Touches $43K The past several days seemed quite positive for the primary cryptocurrency. The asset had recovered from its dip below $40,000 on Monday and was increasing in value gradually. In just a few days, it added more than $4,000 of...

2022 was supposed to be the year in which bitcoin reached the six-figure mark. Many analysts believed that by the end of the year, $100,000 would be achievable for the world’s number one digital currency by market cap. However, given the recent bearish trends bitcoin has been following, a poll released by financial giant JPMorgan suggests that many people are changing their minds. JPMorgan Poll Shows Fewer and Fewer People Believing in the Power of BTC 2021 was arguably...

Alkesh Shah – analyst at Bank of America – predicted Solana could continue to steal some of Ethereum’s market share as it’s easy to use and has significantly lower transaction fees. The strategist further asserted that Solana could become “the Visa” of the cryptocurrency industry. High Hopes for Solana Solana has been one of the top-performing cryptocurrency projects in the past 12 months. Its native token has increased its USD value by nearly 4,300% in one year and is...

Similar to the consolidation in May-July 2021, the market is forming a significant supply/demand level in the $40K-$42K range. Aside from the short-term price trend, the mentioned area will be a significant support (or resistance) for long-term price actions. Technical Analysis Many analysts believe the $40K-$42K zone resembles the $30K-$32K range in May-July. Since December 5th, the $40K-$42K zone acted as good support. But, considering the low demand in the spot market,...

For the first time in quite a bite, the past seven days have turned out to be positive for Bitcoin, although the overall cryptocurrency market is slightly down throughout the same period. Data from CoinGecko shows that the market capitalization is down some $40 billion. Starting with Bitcoin, its price was hovering around $41,000 this time last week and very soon after that increased to $42K only to drop towards $40K on Monday. Since then, however, the cryptocurrency has been...

Bitcoin cash price started a fresh decline from the $450 resistance against the US Dollar. The price is now trading below the $400 zone and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $380 the 4-hours chart of the BCH/USD pair (data feed from Coinbase). The pair must gain pace above $400 for more gains in the near term. Bitcoin cash price is showing positive signs above $380 against the US Dollar,...

Yield Guild Games – a game community in the play-to-earn field – obtained support from the US cryptocurrency platform Coinbase. The partnership between the two entities should bring more assets available for scholarships. In addition, Coinbase announced it will soon acquire FairX – a CFTC-regulated derivatives exchange. The deal is considered a turning point for the former, which aims to offer crypto derivatives to retail and institutional investors in the States. Coinbase...

Bitcoin – the world’s number one digital currency by market cap – briefly fell below the $40,000 mark for the first time in several months. At press time, the asset has risen back to about $41,000 per unit, though the news – for some analysts – suggests that the year is going to be rocky for the virtual coin. Is Bitcoin Feeling Okay? Overall, bitcoin has gotten off to a shaky start in 2022. What was supposed to be a year – according to many industry experts – in which...