Markets

Binance believes the future of crypto needs to be user-focused. Amidst mounting regulations, the CZ-led cryptocurrency exchange has published a list of what it considers to be the basic rights for every digital asset user. Beyond the hype of Bitcoin (BTC) and Dogecoin (DOGE), Binance stated that there is more to the cryptocurrency sector. Its constitution-like document “10 Fundamental Rights for Crypto Users” emphasizes the need for financial inclusion, privacy, among...

Shares of the U.S. leading crypto mining company Marathon Digital Holdings (MARA) went on a downward spiral, plunging by nearly 30% within 24 hours amid a recent crackdown by the country’s Securities and Exchange Commission (SEC). MARA Down 27% in 24 Hours Since Marathon is primarily a Bitcoin miner, the recent bull run in the crypto market had a positive effect on the company’s stock. In the past month alone, the miner’s stock, MARA, went up by more than 40%. However, the...

Key Support levels: $1 Key Resistance level: $1.2 Unfortunately, the bulls were unable to sustain the XRP price above $1.2, and it was pushed lower towards the support level at $1 during today’s market downturn. For this reason, the previous support at $1.2 has turned into resistance. $1 remains a strong level, and it would be quite surprising to see the price close below it in the near term. Chart by TradingViewTechnical Indicators Trading Volume: Volume increased on this...

ADA price started a major decline from well above $2.20 against the US Dollar. The price is now trading below $2.00 and the 55 simple moving average (4-hours). There was a break below a major bullish trend line with support near $2.00 on the 4-hours chart (data feed via Bitfinex). The price might extend its decline below the $1.92 support zone in the near term. Cardano price is gaining pace below $2.00 against the US Dollar, unlike bitcoin. ADA price must stay above...

Ethereum price started a fresh decline from $4,800 against the US Dollar. ETH price is now trading below $4,500 and the 55 simple moving average (4-hours). There was a break below a major bullish trend line with support near $4,580 on the 4-hours chart (data feed from Coinbase). The pair could extend its decline towards the $4,100 and $4,000 levels. Ethereum price is showing bearish signs below $4,500 against the US Dollar. ETH/USD could extend losses below the $4,200...

Jon Cunliffe – Deputy Governor at the Bank of England – recently asserted that the risks cryptocurrencies pose to the financial sector are drawing closer. He urged regulators to take action before such an economic threat can manifest in traditional markets. Crypto Threatening The Financial Industry? The governor aired his thoughts in conversation with BBC’s Today Programme on Monday. He feared that the volatility of cryptocurrency markets could start to spill over into...

The blockchain-focused financial services company – Circle – intends to establish regional headquarters in Singapore. The firm will also reportedly invest in a stablecoin backed by the Japanese yen through its newly-designed project – Circle Ventures. Circle Sees Opportunity in Asia According to a recent Bloomberg report, Circle – the issuer of the second-largest stablecoin, USDC – expects significant growth in the use of such tokens soon. Speaking on the matter was Jeremy...

Bitcoin – the world’s number one digital currency by market cap – has hit a new all-time high of roughly $68,000 per unit. Bitcoin Hits a New Peak While the currency is back down in the $67,000 range at the time of writing, we are clearly seeing a strong pattern. 2021 has been the year of all-time highs for bitcoin, as the currency first rose to about $64,000 per unit before stepping back and rescinding some of its gains. The bearish period that came soon after lasted...

The popular cryptocurrency lender – Nexo – has announced a buyback program for its native token worth $100 million. The company estimates that the entire process will be completed within the next six months. Nexo’s $100M Buyback Program The press release shared with CryptoPotato informed that the company’s Board of Directors had approved the program, authorizing it to “discretionally repurchase” the native token Nexo in the open market periodically. The procedure has already...

The futures market experienced a moderate reset in the funding rate. The recent price volatility in the range between $58 and $69K has caused it to decline. However, similar to the price rally from the COVID crash in 2020, a rising macro trend in the funding rate becomes obvious. At the same time, the momentum of the open interest has also dropped through the last two weeks of volatile price movements. Chart by CryptoQuantThe market has the same structure that we saw in...