Markets

It was a tough week price-wise in the cryptocurrency market. The total capitalization lost around $100 billion as every single coin from the top 20 is in the red. Some lost more than others, but we’ll get to that later. Kicking it off with Bitcoin. It had a relatively calm week, and even though it’s down about 3% over the period, it’s still not as bad as a lot of the altcoins. BTC was trading at around $34,000 last Friday, and apart from a brief positive spike on Monday, it...

It was also revealed that Xiaomi posted year-on-year smartphone shipment growth that beats that of Samsung and Apple. In the mobile phone market, Apple Inc (NASDAQ: AAPL) might be a more renowned name but it was overtaken by Chinese smartphone maker Xiaomi in the last quarter. According to data from Canalys, the Chinese firm was the second-largest smartphone maker in the second quarter. The data revealed that Xiaomi had 17% share of global smartphone shipments which is only behind that of...

The news comes as a relief to the Ripple community, which claims that the exchange medium can not be considered as a security.US-based tech firm Ripple Labs has ticked off an additional win in a court battle with the US Securities and Exchange Commission (SEC). As Ripple braves a lawsuit alleging it of deceiving sponsors about its XRP cryptocurrency, the District Court Judge has rejected SEC’s proposal to repress the removal of the William Henchman, SEC’S Division of Corporation Finance.In...

The 30% stake acquisition in LMAX Group will help investment giant J.C. Flowers to expand its institutional services as well as step into overseas markets like Asia. On Thursday, July 15, investment group J.C. Flowers announced the acquisition of a 30% stake in crypto trading platform LMAX. The LMAX Group specializes in offering crypto and FX trading to institutional clients.As a result of the deal, J.C. Flowers shall be investing $300 million at $1 billion valuations. However, the...

Following the US Didi stock listing, the Cyberspace Administration of China (CAC) removed the Didi application from China’s mobile App Store.Didi Global Inc (NYSE: DIDI) stock had dropped over 7% in pre-market to trade around $11.48 as of Jul 16, 2021, at 4:58 a.m. EDT. DIDI shares closed Thursday trading at $12.36, -2.06% according to market analytics provided by MarketWatch. The drop was attributed to news that officials from seven Chinese government departments visited the ride-hailing...

Binance announced earlier on July 16th that it has “effective immediately” halted one of the most recently-released services – trading digital tokens representing equity stocks. This comes amid the exchange’s regulatory issues in numerous countries. CryptoPotato reported in April 2021 when the leading cryptocurrency exchange added support for a new product enabling its users to interact with fully-backed digital tokens representing equity stocks. After initially adding...

Jackson, Tennessee, could soon implement BTC for property tax payments, according to the city’s mayor – Scott Conger. He made this statement shortly after bashing the US government for the unnecessary high inflation rates across the entire country. Scott Conger, the mayor of Jackson, Tennessee, since 2019, took it to Twitter to indicate that the local blockchain task force is looking into how the city “can start property tax payments in bitcoin.” Furthermore, he indicated...

Bitcoin cash price remained in a bearish zone below the $500 resistance against the US Dollar. The price is now trading below the $475 support and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $472 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase). The pair could start a decent increase if it clears the $472 and $475 resistance levels. Bitcoin cash price is struggling to move higher above $475...

Crypto volumes are continuing to fall through the floor, and according to the latest data from digital asset manager Coin Shares, trading numbers have dropped to their lowest levels. Coin Shares Data Suggests an Ugly Exodus Bitcoin has taken one of its nastiest dives in history. The world’s number one digital currency by market cap was trading for a new all-time high of approximately $64,000 per unit in mid-April, though at press time, it is trading for approximately...

Going through the most significant price pullback in this cycle, approximately 55% from the all-time high set in April, there is considerable uncertainty in the Bitcoin market from technical and on-chain analysts’ perspectives. Figure 1– Bitcoin daily price history since December 2020. Chart by Glassnode The following analysis is compiled by on-chain analyst CryptoVizArt for CryptoPotato, and looks into the on-chain side of the story to evaluate the bullish/bearish signs....