The price of Ether (ETH) declined 9.8% between Feb. 19 and Feb. 25 after the price resistance at $1,725 proved stronger than expected. Still, the correction was insufficient to break the 6-week-long ascending channel and did not cause Ether derivatives metrics to turn bearish. Ether's price resilience can be partially explained by the operational failure of some of its smart contract blockchain competitors. For instance, Solana (SOL) faced a 20-hour-long outage on Feb. 25, which was only resolved after a network upgrade coordinated by validators. The network restart also involved purging some of the latest slots, although Solana developers said …

Bitcoin (BTC) is on the verge of closing another week that saw the price dip closer to $30,000 but the same bearish observation cannot be made for all altcoins. On Friday, several smaller-cap altcoins managed to shake off the bearish assault and post-double-digit gains before traditional markets closed for the weekend. Data from Cointelegraph Markets Pro and TradingView shows that the top movers over the past 24 hours were NEM (XEM), Augur (REP) and district0x (DNT). It's worth noting that four of the top seven gainers are layer-one protocols, an interesting development that comes at a time when Ether’s (ETH) …

Veteran crypto team NEM Group has announced the successful launch of its Symbol mainnet. According to a March 17 announcement, NEM now comprises a “two chain ecosystem,” with NEM’s existing NEM NIS1 chain continuing to operate alongside Symbol. Symbol’s launch wasn’t entirely smooth sailing, with the mainnet going live two days late. Despite the team announcing the launch would be delayed due to the need to investigate unexpected node behavior amid its pre-mainnet rollout, sponsored posts celebrating Symbol’s launch were prematurely published by a number of crypto media outlets. The issue preventing Symbol’s launch was identified within 24 hours, with …

In the early morning trading hours Bitcoin (BTC) price abruptly dropped by 17.65% which triggered a major downturn throughout the entire market. Data from Cointelegraph Markets and TradingView shows that Bitcoin decreased from a high of $58,274 on Feb. 21 to a low of $47,622 during the early hours on Monday before buyers returned to lift BTC to its current value of $53,350. Despite today’s $1.6 billion liquidation event, Bitcoin bulls remain optimistic about the future of the top cryptocurrency with key indicators suggesting that those buying today’s dip are likely to come out on top. According to ExoAlpha Chief …

Since then, the price of Bitcoin has suffered a correction, and most of the crypto market followed. Bitcoin is currently sitting at just over $35,000, and while traders suggest the pullback to be a healthy correction required for Bitcoin to maintain its bullish momentum, some believe the cryptocurrency may plunge below the $20,000. The Bitcoin price action has also been reflected in the altcoin market as it usually does, with many popular cryptocurrencies surging alongside BTC. Noticeably, Ether (ETH), the native token of the Ethereum platform, has doubled in value in the last month and is currently sitting at over …

December is proving to be another blockbuster month for Bitcoin as the flow of institutional investors injecting funds into Bitcoin continues to increase. Business intelligence firm MicroStrategy announced that it had raised $650 million worth of convertible bonds at a rate of 0.75% due in 2025. The company now plans to invest the net proceeds in Bitcoin after identifying its “working capital needs and other general corporate purposes.” When institutional investors show such a large appetite to buy Bitcoin (BTC) near the all-time high, it is no surprise that the corrections have been shallow. Tyler Winklevoss said in a recent …

Analysts are pointing to demand from financial institutions and publicly listed companies as the primary forces behind Bitcoin’s (BTC) sudden retest of its all-time highs. “The primary reason for the steady grind up in Bitcon has been the increased interest and aggressive buying activity from institutions,” said Nick Cote of gamified trading platform Hxro Labs. “A lot of investors are going through Grayscale.” Rising institutional demand can be seen in heavy accumulation by Grayscale’s Bitcoin Trust, with the fund’s BTC holdings exceeding 500,000 earlier this month. Cote also said that top American companies like Square and Microstrategy are “putting BTC …

This week Bitcoin (BTC) price nearly hit a new multi-year high at $16,000 and legendary investor Bill Miller told CNBC that the law of supply and demand favors BTC. While the supply is increasing by about 2.5% a year, “the demand is growing faster than that.” Miller expects every major bank, high net worth firms, and investment banks to “eventually have some exposure in Bitcoin.” Although Bitcoin’s volatility remains high, Miller expects investors to focus on the staying power of Bitcoin as the risk of it ever going to zero is much lower than before. At the current market capitalization …

Proof-of-stake blockchain NEM (XEM) is preparing for a token migration in December alongside the public launch of the Symbol (XYM) blockchain. Speaking to Cointelegraph, NEM Group CIO and NEM Ventures managing director, Dave Hodgson, revealed that Symbol will host at least two products at launch. Symbol will host the Wave Financial Whiskey Fund, which offers a tokenized representation of ownership in 25,000 barrels of 2020-vintage bourbon worth more than $4 million. The platform will also host LBCOIN, collectible crypto assets that commemorate Lithuania’s 1918 declaration of independence issued by the country’s central bank. Both products were previously hosted on NEM. …

Over the weekend hackers stole about $150 million in user funds from a number of hot wallets at KuCoin exchange. Previous instances of hacking usually have a negative impact on crypto prices but as the news broke the price of Bitcoin (BTC) and major altcoins hardly budged. In a recent interview with the Human Rights Foundation, Square CEO Jack Dorsey said that “security is not something that can ever be perfected” and it is a constant endeavor to stay ahead of the attackers. Dorsey added that Bitcoin and blockchain are the future where every bit of content will exist forever …

The U.S. stock markets, gold, crude oil, and crypto markets have all corrected in the past week, which shows that traders booked profits in most asset classes. The total crypto market capitalization corrected from a high of above $394 billion to a low of about $313 billion, which is roughly a 20% correction. This decline also led to a sharp fall in Bitcoin (BTC) futures open interest, which was down by $653 million on Sep. 3, suggesting squaring up of positions by a few professional short-term traders. However, even after the fall, the trend in several major cryptocurrencies has not …

Ripple Labs CEO Brad Garlinghouse believes that the U.S. Federal Reserve’s recent decision to allow inflation to stay above its 2% target objective could debase the dollar further. According to Garlinghouse, this decision is likely to lead “to further diversification of assets which will certainly be good for crypto.” The various stimulus and fiscal measures announced around the world to counter the coronavirus pandemic led economic slowdown are bullish for Bitcoin (BTC). However, Bitcoin’s major bull market cycles show that each successive cycle has been longer than the previous one. Hence, if history were to repeat itself, Bitcoin could consolidate …