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Tag Archives: featured1

Bitcoin Slips Below $17K as Altcoins Swimming in Red (Market Watch)

After flirting with and above the $17K level for a few days, Bitcoin’s price has been unsuccessful in charting any significant gains above it. Finally, the bears seem to have taken over and pushed the cryptocurrency below it. This happens as the entire market capitalization lost around $20 billion in the past 24 hours, and altcoins are predominantly trading in the red. Bitcoin’s Price Losing $17K The past 24 hours haven’t been particularly favorable throughout the entire...

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How Wide Does FTX Contagion Spread? The Affected Companies So Far

The collapse of the cryptocurrency exchange FTX will go down as one of the darkest moments in crypto’s history. The company experienced severe liquidity issues in November and couldn’t honor the withdrawal requests of its customers.  Binance – the world’s largest crypto platform – was ready to acquire the exchange but, after auditing, walked away from the agreement. FTX could not find a solution and filed for Chapter 11 bankruptcy protection, while CEO Sam Bankman-Fried...

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DOGE Soars 6%, BTC Stuck at $17K Amid Low Trading Volumes (Weekend Watch)

As it typically happens during the weekend, the trading volumes have gone down, which results in little-to-no price movements for BTC. Most altcoins are in a similar position, with a few exceptions. Dogecoin is among them, following a 6% daily increase. Bitcoin Boring at $17K Last weekend was quite dull in terms of price actions, and BTC spent most of it around $16,500. Monday started with a price drop towards $16,000, but the bulls intercepted the move and didn’t allow any...

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Bitcoin Remains Calm at $17K After Latest US Job Report (Weekend Watch)

The latest US job report brought some brief volatility for bitcoin, but the asset remained calm overall, around $17,000. Most altcoins are also quite stagnant now, and the only exceptions are UNI, LEO, and QNT. Bitcoin Calms at $17K Following last weekend’s lack of any volatility, bitcoin headed straight south on Monday, dipping to $16,000. The bulls stepped up at this point and pushed it north to almost $17,000. After a few days of being unable to break above that level,...

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Multiple SBF Appearances, Fed Chair Speech, and Market Bounce: The Week’s Crypto Recap

The past seven days were filled with a lot of information as the situation around FTX keeps unraveling. The former CEO of the exchange – Sam Bankman-Fried, had multiple appearances, but they may have spurred more questions than they answered. Before we get there, though, it’s important to note that the market managed to add around $20 billion to its capitalization, which is a step in the positive direction. Bitcoin managed to gain 2%, while ETH is up a total of 6% in the past...

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Indian Crypto Companies’ Response to the FTX Collapse

The quick downfall of FTX with an $8-10 billion deficit in its balance sheet has left the broader cryptocurrency market reeling under its cascading effects. Besides Proof of Reserves (PoR) and Reserves to Liability (R2L) Ratio data, Indian crypto exchanges, battling low volume caused by high taxation and an unfriendly regulatory environment, have responded to the evolving situation with some fresh initiatives. Polygon CEO’s Self-Custody Buzz Polygon CEO Sandeep Nailwal was...

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ApeCoin Soars 16%, Dogecoin Taps 3-Week High (Weekend Watch)

Bitcoin keeps trading without any substantial movements, similar to the previous weekend, and seems stuck around $16,500. Its dominance has taken another minor hit as some alts, such as Dogecoin and ApeCoin, have jumped by impressive percentages. APE, DOGE Pump Higher Most of the larger-cap alternative coins stand quiet today, with little-to-no movements, which is somewhat expected as the trading volumes are down again during the weekend. Ethereum, Binance Coin, Ripple,...

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Weekend Watch: Dogecoin Skyrockets 13%, BNB Breaks $300

Bitcoin continues to display little-to-no price swings and stands still around $16,500. Some altcoins, though, have significantly outperformed BTC, including Dogecoin and Binance Coin, both of which jumped to multi-week highs. DOGE, BNB Soar The altcoins were slightly in the red yesterday, but the landscape is quite different now, at least for some. Binance Coin is among those. Amid the latest rumors around the world’s largest crypto exchange, BNB has jumped by 7%. As a...

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Binance Leads PoR Effort, Bitcoin’s Battle Above $16K and Crypto Market’s Attempt at Recovery: This Week’s Recap

The past week was somewhat positive for the entire cryptocurrency market, both in terms of pricing and overall developments. While the meltdown of FTX looms over the industry and most market participants are still afraid of contagion, the total capitalization added over $10 billion amid ongoing developments. First things first, this week’s overall increase doesn’t come on the back of Bitcoin, which is actually down about 1% over the period. The cryptocurrency attempted a push...

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The Fall of Sam Bankman-Fried’s Crypto Empire: A Timeline of FTX’s Collapse

The first twelve days of November were perhaps the darkest for 30-year-old Sam Bankman-Fried (SBF), as he not only lost his crypto empire but went from being a Bitcoin billionaire and crypto’s white knight to filing for bankruptcy and owing customers at least $3 billion. The next eight days revealed that SBF’s once-powerful crypto exchange FTX was not what everyone believed it to be. Here’s the timeline of the events that led to the fall of FTX in the last 20 days. The...

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