Markets

Yield farmers and DeFi token aficionados certainly had a merry Christmas thanks to 1inch, a relatively young and unknown token that in a matter of hours surpassed many other cryptocurrencies’ performance in the top 100 of cryptocurrencies with the largest market capitalization.1inch is a decentralized exchange aggregator that sources liquidity from various exchanges, making it possible to use its smart contract to spread a single transaction across multiple decentralized exchanges.The...

BitcoinBitcoin saw a further 7.5% price surge over the past week, with today’s 5% price hike putting it at a new ATH of $24,660. The cryptocurrency had penetrated above  $20,000 on December 16th, and it continued to rise last week until it met resistance at $23,853 (1.618 Fib Extension – purple).The buyers struggled to break this resistance over the last few days as it went on to trade sideways between $23,853 and the support at $22,708 (.236 Fib Retracement).Bitcoin rebounded from the lower...

As the world is celebrating Christmas, the primary cryptocurrency has its own private celebration.Two days ago, following Ripple’s SEC lawsuit, it seemed like Bitcoin would rather be testing its prior resistance turned support at $20K before continuing higher. Yesterday’s low was $22,700.However, Bitcoin has its own plans. The BTC price had increased $2,000 over the past two days, surpassing the previous all-time high from last Sunday set at $24,370 (Bitstamp). As of writing these lines,...

Following yesterday’s massacre, the cryptocurrency market has begun its Christmas recovery session. Bitcoin is getting towards $24,000, currently trading less than $500 from a new all-time high, while most altcoins have bounced off hard with impressive double-digit increases.Bitcoin Eyes $24,000The primary cryptocurrency went on a roller-coaster in the past few days with several notable price moves resulting in a new all-time high and a subsequent $2,000 drop.This price action had repeated...

Alphabet through Google Cloud has identified a huge gap in the Saudi Arabia cloud infrastructure and intends to fill it despite the impending competition. As 2020 financial books come to a close and welcome a new year, Alphabet Inc (NASDAQ: GOOGL) has been working on delivering a better financial year despite the ongoing coronavirus pandemic. Google, one of its major subsidiaries, has announced that it will partner with Saudi Aramco to provide cloud services in the region.“The collaboration...

On 14 December 2020, Grayscale announced publicly that their Asset Under Management had increased to $13 billion for the first time. Interestingly, this has increased to $16.4 billion in a little over a week. Grayscale Investment Trust LLC (OTCMKTS: GBTC) is continuing its impressive performance in 2020 with its Asset Under Management rising to $16.4 billion. This is a little over $3 billion addition from the $13 Billion Assets Under Management reported last week. The success story of...

On Wednesday, President Trump’s Working Group on Financial Markets published a report regarding stablecoins retail payments perception amongst the public.A certain leading US financial regulators group has recently issued a new statement regarding stablecoins. The group recommended that the same regulation used in other financial systems ought to be applicable to stablecoins. This decision was based on the fact that traders usually rely on stablecoins to purchase cryptocurrencies like Bitcoin...

EOS started a strong decline from well above the $2.800 support zone against the US Dollar.The price is currently correcting higher from $2.000, but it is well below the 55 simple moving average (4-hours).There was a break below a major bullish trend line with support at $3.000 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).The pair could continue to move lower as long as it is below the $2.650 resistance level.EOS price started a fresh decline below $2.800 and $2.650...

Bitcoin’s recent rollercoaster continued in the past 24 hours with another $1,000 move before settling around $23,000. However, BTC’s dominance has spiked as the entire altcoin market has bled out, led by Ripple’s continuous drops.Bitcoin’s 24H Wild RideThe past several days have been particularly volatile for the primary cryptocurrency. Just a few days ago, BTC skyrocketed to a new all-time high of $24,300 before getting rejected and dumping by more than $2,000.Bitcoin recovered most losses...

Litecoin price started a steady decline from the $125 resistance zone against the US Dollar.LTC price even declined below the $100.00 level and spiked below the 55 simple moving average (4-hours).There is a major declining channel forming with resistance near $108.00 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).The pair is likely to find a strong buying interest near the $92.40 and $90.00 levels.Litecoin price is slowly moving lower from well above $110.00 against the US...