Markets

Weeks have passed since the much-discussed Bitcoin halving, and despite the huge amount of excitement leading up to it, the market is still responding slowly. A small number of cryptocurrency analysts expressed skepticism, but positive anticipation dominated the market sentiment. Even though there have been brief periods of market price increases, experts feel that this is the ideal time to search the market for the top cryptocurrency projects because the post-Bitcoin halving period is...

United States Senator Elizabeth Warren (D-MA) is calling on the Federal Reserve to lower its interest rate target on Thursday – a move most analysts believe would be a boon for crypto markets. The senator’s request puts her in an ironic alignment with crypto investors, whose industry she has repeatedly tried to stifle with burdensome legislation and reporting requirements. Cut Interest Rates Now, Says Senator Warren In a letter to Fed chairman Jerome Powell on Tuesday, Warren...

Bitcoin futures interest tapped an all-time high in US dollar terms on Monday, reaching over 500,000 BTC worth $36.3 billion. Analysts say the overwhelming surge in open interest relates to a clever arbitrage play levied by institutional traders between Bitcoin’s futures and spot markets. The Cash And Carry Trade In a Tuesday newsletter, lead Glassnode analyst James Check theorized that leveraged funds are simultaneously shorting Bitcoin on the CME while buying up coins in...

Since Dogecoin’s debut in 2013, the meme coin market has seen significant growth, reaching a total market cap of $60 billion by June 2024. In March alone, the asset class attracted a whopping $13 billion in spot trading volumes on exchanges, surpassing major blue-chip cryptocurrencies such as Ethereum and Solana. However, this sector is grappling with risks. Red Flags Identified in Meme Coin Investments According to CoinShares’ latest report, the heavy concentration of assets...

Fiat-pegged stablecoins have grown in market cap over the past ninety days as they collectively witnessed $16 billion flow into their side of the crypto market. However, the past month has been relatively calm for the stablecoin economy. USDT’s (Tether) market cap has grown to $112.5 billion on June 8 from $101.18 billion in March. That is over $11 billion in the three months, with USDT representing 69% of the $16 billion that flowed into stablecoins. Its market cap barely rose over the past...

In a new announcement, Charles Hoskinson, the founder of Cardano (ADA), revealed further details about what he claims is the most crucial event in ADA’s history. Meanwhile, Notcoin (NOT) whales are looking at crypto in Stage 2 of its presale – DTX Exchange (DTX). Many analysts peg this token as the next $0.5 coin in 2024, making it a good crypto to buy. Cardano (ADA): Chang Hard Fork To Bring a New Dawn Cardano (ADA) has been making waves in the crypto market as one of the best cryptos...

Despite an attempt at making higher highs in early June, momentum has shifted in favour of sellers. Key Support levels: $0.000018 Key Resistance levels: $0.000025   1. SHIB Loses Key Level Market participants were hoping SHIB can hold the $0.000025 level as a key support that can send the price to new highs. Unfortunately, this was short-lived. Sellers took back control of the price action and turned this level into a key resistance. Chart by TradingView2. Bulls on the...

TL;DR Polkadot (DOT) is trading at around $6.37 amid a market correction, with analysts predicting a potential rise if it surpasses key resistance zones. The Relative Strength Index (RSI) indicates the asset might be poised for an upward trend, with current levels suggesting it is not overbought. Bears Might Get Disappointed Polkadot’s DOT is yet another cryptocurrency heavily affected by the ongoing market correction. It currently trades at around $6.37 (per CoinGecko’s...

MOTHER, a memecoin launched by rapper/songwriter Iggy Azalea, stirred up a community-wide debate on X last week. Figures like Vitalik Buterin chimed in with their takes as MOTHER and other celebrity-launched memecoins made their way into the market as crypto prices rallied. Vitalik commented on a post about the MOTHER token, in which he stated, “I’m feeling quite unhappy about with “this cycle’s celebrity experimentation” so far.” Many took the opportunity to go back and forth about it. Iggy...

South Korea’s Financial Services Commission (FSC) will consider NFTs as virtual assets from July 19. NFTs used for payments and exchanges will be recognized and eligible to accrue interest when deposited in exchanges. The news clarifies the situation of NFTs in the FSC’s guidelines published last year. National governments and authorities across the globe are scurrying to accommodate the crypto world into their financial systems. Many are formulating new regulations, while some are revising...