Cardano news-Page 12
Price analysis 6/1: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
Bitcoin (BTC) has made a tentative start to the month of June, suggesting that bears have not gone into hibernation just yet. Although Bitcoin is trading nearly 55% off its all-time high of $69,000, whales and institutions remain cautious and have not jumped into the market with gusto, according to BlockTrends analyst Caue Oliveira. According to CryptoQuant contributor Venturefounder, if Bitcoin repeats the historical patterns seen after the previous halving cycles, then a bottom may be formed between $14,000 and $21,000 in the next six months. Thereafter, Bitcoin may chop around the $28,000 to $40,000 range for a large part …
Bitcoin / June 1, 2022
Cardano price fake-out? ADA's 45% rebound in two days could trap bulls
Cardano (ADA) price climbed from $0.48 on May 30 to as high as $0.68 on May 31—a 45% rally in less than 48 hours. But ADA/USD failed to extend its rally further upward and dropped by almost 13.75% from its weekly high. ADA price: Ear market vibes Cardano's price retreated sharply on June 1, giving up a portion of the gains secured in the previous two days. The question now arises whether the ADA/USD pair can extend its recovery trend, especially as it trades almost 80% below its September 2021 peak of $3.16. Interestingly, the downside retracement began after ADA …
Markets / June 1, 2022
Price analysis 5/30: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
After creating the dubious record of nine successive red weekly closes, Bitcoin (BTC) is attempting to make amends by starting a price recovery to end the losing streak. Analysts have repeatedly said that investors should not fear a bear market because it is one of the best times to invest in fundamentally strong projects in preparation for the next bull phase. CryptoQuant CEO Ki Young Ju highlighted that unspent transaction outputs (UTXOs) that are older than six months reflect 62% of the realized cap, which is similar to the level seen during the March 2020 crash. Hence, Ki said that …
Bitcoin / May 30, 2022
Price analysis 5/27: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
Equities markets in the United States rallied sharply on May 25 and 26 but Bitcoin (BTC) and altcoins have not followed a similar trajectory. This suggests that traders are not confident that the crypto markets have bottomed out yet. On-chain analytics firm Glassnode said that the number of Bitcoin whales has been reducing and on May 27, the metric fell to the lowest level since July 2020. On May 24, Miller Value Partners founder and chief investment officer Bill Miller backed Bitcoin investing and called it an “insurance policy against financial catastrophe.” In a note to its clients on May …
Bitcoin / May 27, 2022
Price analysis 5/25: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
Bitcoin (BTC) has been struggling to sustain above $30,800 since May 16, suggesting that demand dries up at higher levels. Similarly, U.S. equity markets have not ceased to decline due to uncertainty regarding the number of rate hikes that will be needed to bring inflation under control. As the crypto bear market deepens, analysts are becoming extra bearish on their projections for the extent of the fall. Trader and analyst Rekt Capital said that Bitcoin could be at risk of falling to $19,000 to $15,500 before a bottom is formed. However, Arcane Research recently pointed out that buying when Bitcoin’s …
Bitcoin / May 25, 2022
Crypto funds under management drop to a low not seen since July 2021
Digital asset investment products saw $141 million in outflows during the week ending on May 20, a move that reduced the total assets under management (AUM) by institutional funds down to $38 billion, the lowest level since July 2021. According to the latest edition of CoinShare’s weekly Digital Asset Fund Flows report, Bitcoin (BTC) was the primary focus of outflows after experiencing a decline of $154 million for the week. The removal of funds coincided with a choppy week of trading that saw the price of BTC oscillate between $28,600 and $31,430. Despite the sizable outflow, the month-to-date BTC flow …
Etf / May 24, 2022
Top 3 cryptocurrencies that are faring the best in the 2022 bear market
The crypto market has been in decline over the past six months with its valuation dropping from over $3 trillion in November 2021 to $1.23 trillion in May 2022. Fears over persistently higher inflation, the Federal Reserve's hawkish response to it, and the ongoing conflict between Ukraine and Russia prompted investors to limit their exposure to riskier assets. Also, their increasing appetite for the safe-havens, such as the U.S. dollar, weighed down demand for some of the top cryptocurrencies and U.S. equities. As a result, some digital assets, such as Dogecoin (DOGE) and Cardano (ADA), fell by more than 80% …
Markets / May 24, 2022
Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
The United States equity markets are attempting a recovery after weeks of relentless selling. Along similar lines, on-chain monitoring resource Material Indicators expects the crypto market to recover, but they anticipate Bitcoin (BTC) to spend some time in a range before “a real breakout.” The seven-day moving average of the on-chain transaction volume tracked by Glassnode hit a nine-month low on May 23. This suggests that Bitcoin’s lackluster price action in 2022 has led to reduced participation from traders. While signs of a short-term recovery are visible, a sustained recovery could be difficult because the macro conditions remain challenging. International …
Bitcoin / May 23, 2022
Price analysis 5/20: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
Bitcoin’s (BTC) tight correlation with the legacy markets continues to be a drag, especially as the United States equity markets remain in a firm bear trend. The Dow Jones Industrial Average is on track for its eighth consecutive negative week and the S&P 500 is close to plunging into the bear market territory. Celsius (CEL) CEO Alex Mashinsky believes that the short sellers on Wall Street are looking for any weakness in crypto companies to “short and destroy.” Mashinsky blamed “the Sharks of Wall Street” for bringing down Terra (LUNA) and trying to destabilize Tether (USDT) and Maker (MKR) and …
Bitcoin / May 20, 2022
Cardano accelerator program Genius X ISPO nets $105 million in ADA
Cardano-based accelerator program Genius X has seen more than $105 million worth of ADA delegated to its initial stake pool offering (ISPO). This comes after the firm’s decentralized automated market maker and liquidity management protocol Genius Yield completed its ISPO on May 10, with over 14,500 delegators staking 270 million Cardano (ADA) across four official stake pools, making it one of the biggest ISPOs within the Cardano ecosystem. Genius Yield is a Cardano-based decentralized finance (DeFi) protocol that features a decentralized exchange with an order book. It integrates a liquidity provision model, which aims to mitigate market risk and eliminate …
Blockchain / May 20, 2022
Price analysis 5/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
On May 17, United States Federal Reserve Chairman Jerome Powell told the Wall Street Journal that the 50-basis-point rate hikes would continue until inflation is under control. Powell’s emphasis on a hawkish policy suggests that monetary conditions are likely to remain tight in 2022, which could limit the upside in risky assets. On-chain market intelligence firm Glassnode said that historically, Bitcoin (BTC) has bottomed out when the price breaks below the realized price. However, barring the 2019 to 2020 bear market, during previous bear cycles, Bitcoin’s price stayed below the realized price for anywhere between 114 to 299 days. This …
Bitcoin / May 18, 2022
Price analysis 5/16: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
The selling in Bitcoin (BTC) is showing no sign of abating and Bitcoin has fallen for seven straight weeks for the first time ever. This indicates that the momentum remains strongly in favor of the bears. While the short-term sentiment remains bearish, institutional traders seem to be taking a longer-term approach on cryptocurrencies. Goldman Sachs and Barclays joined several other institutional investors in a $70 million Series A funding round by institutional trading platform Elwood Technologies. After the mayhem and volatility of the last week, crypto prices may attempt a relief rally in the next few days. It is unlikely …
Bitcoin / May 16, 2022