As Ethereum’s price continues to fluctuate, it has recently undergone a period of sideways consolidation. This phase came after a decline towards the critical support level of $3K. Interestingly, the cryptocurrency seems to be range-bound between $3K and $3.7K. It appears that volatility may not increase unless Ethereum manages to break out in either direction.
Crypto
Shiba Inu (SHIB) has recently experienced a price drop, with the current trading price at around $0.00002734. This represents a 3% decline on a daily scale and a 20% drop on a monthly basis. Despite this negative trend, analysts are predicting a potential bullish rally. One key indicator is the critical resistance levels being tested
The boss of Marathon, America’s largest crypto mining firm, recently discussed the impact of spot Bitcoin ETF approvals on the market. Fred Thiel mentioned in an interview with Bloomberg that the ETF approval accelerated what would have been the post-halving rally. This approval attracted capital into the market and brought forward the price appreciation that
The introduction of Bitcoin spot ETFs in the U.S. has been met with significant interest, with $12.3 billion of net inflows recorded in just three months. This influx of investment has raised questions about the impact of these ETFs on the broader Bitcoin market. Glassnode analyst, James Check, recently provided insights by analyzing the effects
In a shocking turn of events, an anonymous cryptocurrency investor known as “Sell When Over” on X recently reported a staggering loss of $800,000 due to the presence of two suspicious Google Chrome browser extensions. The investor initially voiced their concerns on X, disclosing that they had noticed a loss of $500,000 across multiple wallet
In the first quarter of 2024, Ethereum and its Layer 2 scaling solution, Polygon, emerged as the top contenders in attracting new users to their blockchain platforms. According to the latest report by Flipside, Ethereum and Polygon collectively acquired a substantial number of new users, with Ethereum gaining 13.4 million and Polygon boasting 12.3 million.
Bitcoin halving is a process that occurs approximately every four years, aimed at slowing down the creation of new Bitcoins. This mechanism ensures that the last Bitcoin will be mined over a hundred years from now, despite the fact that over 19.6 million Bitcoins are already in circulation. The reduction in production speed, coupled with
Ethena Labs, the creators of USDe, have recently announced the incorporation of Bitcoin (BTC) as backing into their synthetic dollar-pegged offering. This strategic move aims to scale USDe’s supply beyond its current $2 billion mark. The team emphasized BTC’s role in enhancing USDe’s scalability, pointing out its increasing open interest in major exchanges. BTC has
The cryptocurrency market has recently experienced a period of correction, with Bitcoin (BTC) being one of the most impacted digital assets. BTC’s price has fallen by approximately 6% over the past week, currently trading at around $65,400 according to CoinGecko’s data. One potential reason for the increased volatility and decline in BTC’s value is profit-taking
The recent analysis by industry analytics provider Glassnode reveals a significant shift in Bitcoin investor behavior as long-term holders begin distributing BTC to new investors at higher prices. This trend has led to an injection of new capital into the asset class, driving the realized cap to new heights. Despite the positive news of the
