Markets

BeneSwap is a new decentralized derivatives trading platform based on the underlying infrastructure of OKExChain. The blockchain technology ecosystem is gradually growing into the mainstream adoption cycle. This is due to the constant rollout of innovative products by the growing number of crypto-based platforms. From centralized to decentralized exchanges, the hoard of digital assets being rolled out today finds their way to a platform where they can be traded. As the crypto world aims to...

Through the partnership, physical pieces will be distributed by DIGITALAX while Polygon will mint the corresponding NFTs. Polygon Network, formerly known as Matic protocol, has announced its collaboration with the DIGITALAX platform to issue a hybrid digital and physical fashion line. According to the dual, the partnership is based on the idea of non-fungible tokens (NFTs) as memes and a gateway that avails the sustainability of the digital markets.The NFT industry has been one of the...

It was a red week all over the cryptocurrency market. Almost everything, with a few exceptions, declined substantially as the total market cap slipped below $2 trillion. Bitcoin Bitcoin saw a turbulent week in which the price dropped by a steep 20% to break beneath $50,000 and reach as low as $47,500 today. The cryptocurrency fell beneath $60,000 at the start of the week as it saw a large spike lower in which it dropped to the $51,440 support (.618 Fib). It managed to...

As Bitcoin (BTC) and Ethereum (ETH) are classified as taxable assets by the US tax authorities, the proposed capital gains tax will also impact crypto investors who have held and earned returns on their digital currencies for a year now. The global market slumps following the aftermath of reports that the United States President Joe Biden is planning to propose a 39.6% capital gains tax to fund education and child care. As reported by CNBC, the President is formally billed to make the...

The latest adverse price developments in the cryptocurrency markets have normalized the Korean bitcoin premium known as the Kimchi premium. With the enhanced volatility, though, experts warn traders to be highly vigilant as the market is still over-leveraged. Kimchi Premium Cools Down The Kimchi premium represents the difference in bitcoin’s price on global exchanges and such operating in South Korea. CryptoPotato reported in early April that the metric, named after a...

Bitcoin’s suffering has only intensified in the past 24 hours with a massive 10% dump to well below $50,000. The alternative coins have it even worse with substantial double-digit price slumps, and the market cap lost roughly $300 billion in a day. Bitcoin Drops Below $50K It was less than ten days ago when everything seemed to be going in BTC’s way as the primary cryptocurrency had just painted its latest ATH record of $65,000. However, the ever-volatile crypto markets...

Bitcoin cash price failed to stay above $1,000 and declined heavily against the US Dollar. The price is now trading well below the $850 support level and the 55 simple moving average (4-hours). There was a break below a major contracting triangle with support near $910 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase). The pair is likely to continue lower towards the $650 and $600 support levels in the near term. Bitcoin cash price is gaining pace below...

In an announcement on April 23, Coinbase Pro stated that it had enabled trading for the Tether stablecoin. The move is huge news as previously the leading exchange would only support its own native stablecoin, USDC. The announcement added that support for USDT will generally be available in Coinbase’s supported jurisdictions, with the exception of New York State. The only version of USDT available will be the Ethereum ERC-20 standard. Trading will begin on or after 6 PM...

Today was a difficult day for the markets in general, with most assets and investments registering red numbers amid a general panic episode. The primary reason seems to be the rumor that U.S. President Joe Biden —who seems interested in thigtening the crypto regulations in the US— may be ready to submit a proposal to the Congress to increase the capital gains taxes. Rumor has it that the rate would nearly double what investors currently have to pay. The story – which first...

Bitcoin has taken a turn for the worse. Following news of Coinbase going public on the Nasdaq last week, the world’s number one digital currency by market cap rose to nearly $64,000 per unit, though at press time, it has knocked roughly $8,000 off its price. Bitcoin Has Taken a Nasty Fall At first glance, this looks like a standard correction. We have all seen instances like this in the past. When bitcoin spikes to new highs rather suddenly, it becomes obvious over a few...