Bitcoin is currently struggling to stay above $27,000, and many analysts are predicting a drop to the low $20,000 levels. However, Glassnode’s lead on-chain analyst Checkmate believes that the sell-side risk ratio metric suggests that “sellers are exhausted on both sides,” indicating that significant moves are coming. The last time the sell-side risk ratio was
Altcoins
The United States dollar has long been the dominant global reserve currency, but this is changing. In 2001, the US dollar accounted for 71% of global foreign exchange reserves. As of 2021, that number has decreased to just over 58%. This shift, known as de-dollarization, is being pursued by countries like Russia and China, who
Ether’s price has hit a 7-day low of $1,788 on May 17, following a sell-off triggered by Chinese prosecutors’ crackdown on the NFT market and the UK lawmakers’ proposal to regulate crypto assets like gambling. The price drop has been further exacerbated by the decline in Bitcoin’s price, which lost its key $27,000 support level,
Grayscale Investments has been asked by the United States Securities and Exchange Commission (SEC) to withdraw its application for a Filecoin Trust product, as the regulator believes that the underlying asset, Filecoin (FIL), can be considered a security. Grayscale had submitted a Form 10 application on April 14 for the updated Filecoin Trust product, which
A panel of lawmakers in the United Kingdom has recommended regulating the trading of unbacked cryptoassets, such as Bitcoin and Ether, as gambling rather than a financial service. The lawmakers stated that the lack of intrinsic value and the price volatility of these assets will inevitably pose significant risks to consumers. Regulating as gambling The
Lido DAO’s price has surged by 40% to reach $2.21, its highest in three weeks, after hitting a local low of $1.57 four days ago. Although the crypto market as a whole has risen by only 4.5% since May 12, LDO has outperformed other top-ranking crypto assets like Bitcoin and Ether. But what are the
Ether’s price has been struggling to maintain its $1,800 support level since May 12, and investors are facing pressures from a worsening regulatory environment for cryptocurrencies. The United States Securities and Exchange Commission (SEC) recently responded to Coinbase’s petition for clear crypto regulation, stating that rulemaking may take years, and enforcement actions will continue in
Bitcoin (BTC) is on track to finish the week with a cut of over 5%, pulling several altcoins down with it. However, the cryptocurrency saw a solid bounce on May 12, with analysts anticipating a potential recovery. Concerns Over Bitcoin According to Material Indicators, the lack of “whale” support at lower levels could be a
The topic of memecoins’ security and dependability as a medium of exchange remains a hotly debated topic in the world of cryptocurrency. While memecoins are considered safe and decentralized by some, their volatility and lack of oversight concern others. Proponents of memecoins argue that their decentralized nature gives users more control over their money and
Bitcoin’s recent decline has not deterred analysts from maintaining a long-term bullish outlook. Despite a decline in price, the long/short ratio has continued to climb, according to analyst Philip Swift, co-founder of trading suite Decentrader and creator of data resource LookIntoBitcoin. One factor contributing to analysts’ optimism is Bitcoin’s halving, which has followed a set
Pepecoin (PEPE) experienced a 65% decrease in its market valuation on May 12, a week after reaching its record high of $1.54 billion. The primary reason behind the extreme price correction is profit-taking. After its launch on April 14, Pepecoin rallied from almost nothing to as high as $0.00000372, emerging as the fastest-growing ERC-20 token
Pepe memecoin has been gaining popularity in the cryptocurrency market. However, its hype has also attracted bad actors who have started creating scams related to the coin. According to blockchain security firm PeckShield, there have been at least ten memecoin scams created in the last three days. These scam tokens have had their liquidity removed,
Milady (LADYS) is a self-organized memecoin named after an anime avatar nonfungible tokens (NFT) collection. Within 24 hours, the token surged over 5,250% and was trading at $0.0000001528 at the time of publication. The surge in token value occurred after Elon Musk tweeted a meme using the Milady NFT imagery, which sent the average Ether
Pepe (PEPE), a new memecoin, has experienced a significant drop in its price by more than 42% just days after reaching an all-time high on May 6. This has resulted in at least one investor suffering paper losses worth hundreds of thousands of dollars. According to Lookonchain, a blockchain analytics service, a cryptocurrency “whale” purchased
LP tokens are not just a representation of one’s assets in DeFi, but they also hold significant value as a fundamental component of the decentralized exchange (DEX) and automated market maker (AMM) used by various decentralized applications (DApps). Liquidity providers earn passive income through transaction-generated fees earned by the liquidity pool in proportion to their
Sui (SUI) has experienced a sharp decline in its price after its market debut across leading cryptocurrency exchanges. On May 5, the token was trading at $1.26 per token, a decrease of about 70% from its record high of approximately $4, which was established just two days prior on Binance. SUI Maintains Overall Market Gains
Since the inception of Dogecoin in 2013, memecoins have been a part of the cryptocurrency space. However, a new token called Pepe (PEPE) has grabbed a significant share of the market from plucky investors. Pepe Token Rally PEPE saw a 2,000% boom in value following its launch in late April 2023, primarily attributed to zealous
Pepe (PEPE), a cryptocurrency with a frog-based meme theme, has witnessed a surge of over 85% in the last 24 hours. PEPE, which was launched on April 14, 2023, has exceeded a market cap of $1 billion. Ironically, the token’s core value proposition is that it has none. The official website of the cryptocurrency comes
Major cryptocurrency exchanges worldwide have launched trading of the Sui (SUI) token following the Sui Network’s mainnet launch on May 3. The Sui Foundation announced that the Sui mainnet went live at 12:00 pm UTC, and many global crypto trading platforms supported the launch, allowing investors to buy and sell the new SUI token. Binance
According to Charlie Lee, the creator of Litecoin (LTC), the cryptocurrency could see significant gains against Bitcoin (BTC) as its halving event approaches in August. Lee believes that the LTC/BTC pairing could potentially rally up to 0.025 BTC, an increase of over 700%, in the next bull cycle. This is due to Litecoin’s higher throughput,
JPMorgan Chase has acquired the deposits and a “substantial majority of assets” of troubled bank First Republic in an auction, making it the third regional bank in the US to fail since March. This highlights the vulnerabilities in the legacy banking system. Bitcoin experiences fourth consecutive month of growth Bitcoin has experienced four consecutive months
On May 1, OKX, a leading cryptocurrency exchange, announced its decision to list Pepe (PEPE), a memecoin inspired by the popular internet meme, Pepe the Frog, on its platform. OKX also stated that Pepe withdrawals would be open from May 2 at 17:00 HKT. In their statement, OKX staff explained that Pepe the Frog is
PEPE, a new meme-coin, has entered a sharp correction phase after surging by more than 2,000% since its debut a few weeks ago. The PEPE price dropped to $0.00000089 on May 3, down about 35% from its record high of $0.00000138 established two days ago. As a result of the correction, its market capitalization slipped