Today Ether (ETH) price briefly touched $4,760, exciting investors and reminding the world that the altcoin is a mere 2.2% below the $4,870 all-time high reached 20 days ago. While the spot price action might be intriguing, let’s see what’s happening in Ether’s derivatives markets. Ether ETH/USD price at Bitstamp. Source: TradingView While it is
Month: November 2021
The use of cryptocurrencies to evade international sanctions from various international governmental organizations like the United Nations (UN), the International Monetary Fund (IMF) and the World Bank, among others, has been a concern for regulators ever since the creation of cryptocurrencies. The rapidly increasing adoption of digital currencies in the last two years makes this
Denver-based investment firm Kelly Strategic Management has filed for an exchange-traded fund (ETF) offering exposure to Ethereum (ETH) futures contracts. The move comes just three months after VanEck and ProShares suddenly withdrew their ETH futures ETF applications on the same day in August. According to a Nov. 29 filing with the U.S. Securities and Exchange
Shiba Inu (SHIB), a Dogecoin-inspired meme cryptocurrency, emerged as one of the best performers across traditional and crypto markets entering the new weekly session as its price climbed by over 30% week-to-date. SHIB’s price reached $0.00005155 Tuesday after bouncing from its technical support near $0.00003560 at the beginning of this week. Its rebound signaled a
Solana (SOL) held onto its intraday gains on Nov. 30 as Grayscale Investments, the largest cryptocurrency fund in the world, announced that it would add SOL to its product line. The digital asset class is growing, and we’re expanding our offerings along with it! Gain exposure to $SOL, the native token of the @Solana network,
The Bitcoin network’s value settlement efficiency has been improving steadily recently, with more being settled for lower fees. Over the past week, the Bitcoin network has transferred or settled an average of $95,142 of value for every $1 worth of fees. The on-chain settlement efficiency has been gradually increasing since May as more has been
Bitcoin (BTC) returned to cement higher support on Nov. 30 after the latest BTC price comeback halted near $59,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView RSI sees “bullish engulfing” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing to local lows of $55,920 on Bitstamp overnight. The pair then recovered to circle $56,500 at
The creator of India’s crypto bill, former Finance Minister Subhash Garg, dismissed the notion of banning “private cryptocurrencies” as a misinterpretation while highlighting the enormous potential of cryptocurrencies and blockchain technology. The Parliamentary discussions around a controversial crypto bill sparked fears around the ban on cryptocurrencies, with no clear indication about the ban’s scope. As
The $4,700 Bitcoin (BTC) price spike on Nov. 29 was likely a great relief for holders, but it seems premature to call the bottom according to derivative metrics. This should not come as a surprise because Bitcoin price is still 15% below the $69,000 all-time high set on Nov. 10. Just 15 days later, the
The crypto markets and the global equity markets staged a strong recovery on Nov. 29 in spite of the uncertainty from the newly discovered Omicron variant of COVID-19. Long-term investors seem to view the recent dip as a prime buying opportunity. A recent filing by MicroStrategy showed that the firm purchased 7,002 Bitcoin (BTC) at
Sentiment in the cryptocurrency market is back on the rise on Nov. 29 as the recent dip down into the “extreme fear” zone on the Crypto Fear and Greed Index improved slightly after Bitcoin (BTC) recovered above the $57,000 support, lifting the index higher into the “fear” zone. Fear & Greed Index. Source: Alternative.me Despite the
The performance of cryptocurrencies in the past 7 days might have seemed slightly unexciting, especially since the total market capitalization increased by “only” 1.8% to reach $2.7 trillion. However, even with the muted price action, some altcoins managed a decent rally. Bitcoin (BTC), on the other hand, was down 6% until Nov. 28, but it
Michael Saylor, CEO of enterprise data analytics company MicroStrategy, announced Monday via a Twitter post and company filing that the firm purchased an additional 7,002 Bitcoin (BTC), worth approximately $414.4 million, at an average price of $59,187 per coin. MicroStrategy sold 571,001 shares of company stock between Oct. 1 and Nov. 29 at $732.16 apiece, raising
According to YCharts data, the average transaction fee of Bitcoin (BTC) has dropped from $4.40 to $1.80 this year, a decrease of 57.97%. This rise may be attributed to a variety of factors. One explanation is that the fast expansion of the Bitcoin Lightning Network, in which transactions are off the blockchain, may have been
Cryptocurrency is now a hot topic in United States politics. It wasn’t always like this, however, especially since just a small percentage of U.S. politicians seem to have a baseline understanding of digital currencies. Nonetheless, it’s now a wedge issue poised to morph into a destructive political football destined to occupy a new, uncomfortable space
Bitcoin (BTC) is back at $57,000 as a new week begins after a late surge produced a much better weekly close than many expected. Making up for last week’s Coronavirus-induced sell-off and associated price dip, Bitcoin passed $58,000 overnight before consolidating higher, still up around 5.7% on the day. The outlook could hold many a
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