Anchor Protocol (ANC) returned to its bullish form this May after plunging by over 70% in the previous two months. Pullback risks ahead ANC’s price rebounded by a little over 42.50% between May 1 and May 6, reaching $2.26, its highest level in three weeks. Nonetheless, the token experienced a selloff on May 6 and May 7 after ramming into what appears to be a resistance confluence. That consists of a 50-day exponential moving average (50-day EMA; the red wave) and 0.786 Fib line of the Fibonacci retracement graph, drawn from the $1.32-swing low to the $5.82-swing high, as shown …

The battle to attract stablecoin liquidity has been a trending theme across the cryptocurrency landscape for the past year, especially as decentralized finance users have come to realize the hefty APY that can be earned on dollar-peg assets. While Curve Finance remains the undisputed leader in interest bearing stablecoin liquidity pools, several new entrants have begun to climb the ranks, including Vector Finance (VTX), a protocol that enables Avalanche (AVAX) network users to generate boosted yields on their stablecoin positions. Data from CoinGecko shows that the price of VTX recently underwent a trend reversal as its price climbed 52% from …

Ethereum’s native token Ether (ETH) is poised for a mini bull run above $3,000 primarily due to a classic bullish reversal pattern on its shorter-timeframe chart, and a huge spike in ETH outflows from Coinbase. ETH price forming falling wedge ETH’s price has been forming a falling wedge pattern since late March 2022, which raises its prospects of undergoing a breakout move in May. Falling wedges appear when the price trends lower inside a range defined by two descending and contracting trendlines. As a rule of technical analysis, these wedges resolve after the price breaks out of their range to …

Large-cap cryptocurrency continue to slump as investors await comments from the Federal Open Markets Committee regarding the exact size of the next interest rate hike. There are, however, a few bright spots in the market and select altcoins managed to post double-digit gains in trading on May 3, thanks to a big-time partnership announcement and cross-protocol collaborations that led to a spike in demand. Data from Cointelegraph Markets Pro and TradingView shows that three of the biggest gainers over the past 24-hours were Algorand (ALGO), Frax Share (FXS) and Helium (HNT). Algorand The pure proof-of-stake blockchain network had, perhaps, one …

A handful of industries and tech workers are shifting from Web2 to Web3 and with this move, awareness of blockchain technology is also spreading. The Ethereum Name Service (ENS) is one project that is looking to help facilitate Web3 adoption by making it easier for DApp users to interact with the Ethereum network. This is accomplished through the creation of human-readable Ethereum addresses that can be converted into the normal machine-readable alphanumeric codes. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $14 on April 26, the price of ENS has surged 91.75% to a …

The Market Report with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss what they believe are the top three most bullish coins one should take a closer look at. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as each makes his case for the most bullish cryptocurrency right now. …

Cardano (ADA) price has been rebounding after falling to its worst levels since February 2021. Meanwhile, a technical fractal suggests that ADA's upside retracement could continue in the coming weeks. Can ADA price extend the recovery? ADA's price has started bouncing after testing the same support area that preceded a 65% bull run in March 2022. Specifically, ADA/USD witnessed a bullish rejection as its price fell below $0.75 on Feb. 24, a move that followed a short period of sideways consolidation. It later broke out of the flat price range, rising to $1.24 on March 26, indicating a strong buying …

Ripple (XRP) opened in May with a decent price rebound after falling 28% in April, its worst monthly performance since June 2021. Furthermore, the XRP/USD pair shows prospects of continuing its recovery trend in the coming weeks. Support confluence raises XRP bullish prospects XRP's price rose by nearly 6.25% in the first two days of May, going as high as $0.63 (data from Binance). The buying sentiment surged around $0.58, a level that acted as strong support in January 2022 and enabled XRP to rise by more than 50% thereafter. Interestingly, the $0.58-support coincides with XRP's 200-week exponential moving average …

For years, cryptocurrency advocates have touted the world-changing capability of digital currency and blockchain technology. Yet with the passing of each market cycle, new projects come and go, and the promised utility of these “real-world use case” projects fails to satisfy. While a majority of tokens promise to solve real-world problems, only a few achieve this, and the others are mere speculative investments. Here’s a look at the three things cryptocurrency investors can actually “do” with their coins. Lending Perhaps the simplest use case offered to cryptocurrency holders is also one of the oldest monetary applications in finance: lending. Ever …

Avalanche (AVAX) price is down more than 30% in April, but despite the negative price move, the smart contract platform remains a top contender for decentralized applications due to its scalability, low-cost transactions and its large footprint in the decentralized finance (DeFi) landscape. The network is compatible with the Ethereum Virtual Machine (EVM) and unique in that it does not face the same operational bottlenecks of high transaction fees and network congestion. Avalanche was able to amass over $9 billion in total value locked (TVL) by offering a proof-of-stake (PoS) layer-1 scaling solution. This indicator is extremely relevant because it …

The nonfungible token (NFT) and Metaverse sectors have been the bright spots in an otherwise sideways crypto market in 2022 and proof of this comes as the APE token hit a new all-time high at $22.60 on April 28. The steady bullish momentum for APE is, in large part, due to the upcoming The Otherside land auction being held by Yuga Labs and Animoca Brands in conjunction Bored Ape Yacht Club NFT project on April 30. The Otherside launch will consist of a Dutch auction-style sale and only Know Your Customer (KYC)-approved wallets will be allowed to participate in the …

The native tokens of move-to-earn lifestyle app STEPN swung higher on news that they would be available to trade on Coinbase, a U.S.-based crypto exchange. The price of STEPN's governance token Green Metaverse Token (GMT) rallied by nearly 20% to reach over $4 in the past 24 hours, hitting as high as $4.50, its best level to date. Similarly, the other STEPN token, called the Green Satoshi Token (GST), which players earn after walking, jogging and running outdoors with STEPN's "NFT Sneakers," gained 6.5% to about $6.25 on a 24-hour adjusted timeframe with a new record high of $7.20. STEPN …