Ethereum’s budding decentralized finance ecosystem has gone parabolic over recent weeks. The value of cryptocurrencies locked in DeFi applications has skyrocketed to $1.65 billion, 65% higher than this metric was just 12 days ago. Simultaneously, the number of users leveraging applications like Compound, Maker, and Synthetix has skyrocketed. Unfortunately, a purported hack just took place…
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Bitcoin has made an attempt at recovering the losses it incurred late last week. On Sunday, the cryptocurrency rallied as high as $9,200 as buyers stepped in and shorts were squeezed. Yet order book data indicates that BTC may have a tough time rallying any further. Related Reading: A Hacker Just Drained $500k in Ethereum…
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Data on Bitcoin futures from the Chicago Mercantile Exchange (CME), on the Commitments of Traders (CoT), shows a sharp decline in aggregate holdings by institutional traders for June. Bitcoin price with open interest on CME. Source: TradingView.com In early February this year, which was the previous instance of this happening, a downturn in the Bitcoin…
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Bitcoin price can break above $10,000 even as it eyes a choppy price action in the weeks ahead. The upside bias takes its cues from the crypto’s on-chain data, including higher buying strength, declining capitulation sentiment, and rising transactional volume. Phi Deltalytics, an independent cryptocurrency analysis portal, sees Bitcoin hitting $11,700 in the coming sessions.…
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The number of Bitcoin that has not moved in over 12 months achieved a new all-time high. The statistic indicates investors are confident in the long-term trend of BTC. Dan Held, who leads business development at a top U.S. Bitcoin exchange Kraken, said: “61% of Bitcoin hasn’t moved in over a year. That’s an all-time…
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Automated market maker protocol Balancer lost over $450,000 in a hacking incident on Sunday. The firm’s co-founder and CTO, Mike McDonald, confirmed that hackers drained at least two of their pools that contained deflationary tokens STA and STONK. He admitted that hackers exploited security vulnerabilities in those tokens to trick their pools into selling them…
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Ripple started an upside correction after trading as low as $0.1690 against the US Dollar. XRP price is currently facing a strong resistance at $0.1800 and it could resume its decline. Ripple corrected higher above the $0.1720 and $0.1750 resistance levels against the US dollar. The price is currently struggling to clear the $0.1800 resistance…
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Ethereum is currently recovering from the $216 swing low against the US Dollar. ETH is now facing an uphill task near $228-$230, and it could resume its slide. Ethereum is currently trading above the $220 and $222 resistance levels. The price is now facing a crucial resistance near the $228 level and the 100 hourly…
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Bitcoin is currently correcting higher from the $8,813 swing low against the US Dollar. BTC is trading above $9,000, but it is facing many hurdles near $9,200 and $9,300. Bitcoin started an upside correction after trading to a new monthly low at $8,813. The price is recovering nicely and it is trading above the $9,000…
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After a more than 150% rally from March’s lows, Bitcoin’s upward momentum has petered out over recent weeks. For nearly two months, the cryptocurrency has been caught in a tight range between $8,500-10,000. This has resulted in a key trend indicator halting its uptrend. According to a trader, if the indicator slides further, there’s a…
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