Shiba Inu (SHIB) looks poised to undergo sharp price corrections after rallying nearly 75% in almost two weeks. SHIB price rallied to mid-January highs On Monday, the meme-token climbed to $0.00002961, its best level since Jan. 18, amid renewed buying interests across the cryptocurrency market. Before the retracement, SHIB's price had crashed by almost 80% from its record high of $0.00008870. Nonetheless, the wild price recovery also came closer to triggering two classic sell signals. First, SHIB's daily relative strength index (RSI), a technical indicator that fluctuates in the range between 0 and 100 to signal whether an asset is …

This week the total crypto market capitalization rallied 10% to $1.68 trillion, which is a 25% recovery from the Jan. 24 bottom. It's too early to suggest that the market has found a bottom but two key indicators — The Tether/CNY premium and CME futures basis — have recently flipped bullish, signaling that positive investor sentiment is backing the current price recovery. Traders should not assume that the bear trend has ended by merely looking at price charts. For example, between Dec. 13 and Dec. 27, the sector's total market capitalization bounced from a $1.9 trillion low to $2.33 trillion. …

The price of the Axie Infinity (AXS) token has surged by nearly 40% in three days. AXS rallied to over $65, its best level in more than two weeks, as Axie Infinity revealed a revamped reward structure for its player-vs-player (PVP) competition round. In detail, the play-to-earn startup expanded its number of leaderboard slots to 300,000 and boosted the amount of AXS rewards to 117,676 from the earlier 3,000 for the next season. "This will supercharge the competitive Axie scene and create more demand for quality Axie teams in the ecosystem," Axie Infinity explained, adding that their move would create …

Ether price (ETH) spent the last two months stuck in a rut and even the most bullish trader will admit that the possibility of trading above $4,400 in the next couple of months is dim. Of course, cryptocurrency traders are notoriously optimistic and it is not unusual for them to expect another $4,870 all-time high, but this seems like an unrealistic outcome. Despite the current bearish trend, there are still reasons to be moderately bullish for the next couple of months and using a “long condor with call options” strategy might yield a positive outcome. Options strategies allows the investor …

In the past year, we’ve seen the crypto economy undergo exponential expansion as heaps of money poured into various cryptocurrencies, decentralized finance (DeFi), nonfungible tokens (NFT), crypto indices, insurance products and decentralized options markets. The total value locked (TVL) in the DeFi sector across all chains has grown from $18 billion at the beginning of 2021 to $240 billion in January 2022. With so much liquidity in the ecosystem, the crypto lending space has also grown a significant amount, from $60 million at the beginning of 2021 to over $400 million by January 2022. Despite the exponential growth and the …

As NFT projects prepare to embark into the Metaverse, it seems they are pivoting from their static imagery to integrating mechanics that provide utility. Notably, Bored Ape Yacht Club has amassed over $1 billion in total volume and announced a mobile play-and-earn game, while fellow primate projects, CyberKongz and SmolBrains continue to announce and integrate new gamification features to their collections. Investors seem to not only be searching for projects with strong communities and utility, but it appears technical capabilities rank high on the list too. This notion was made evident after Cool Cats’ Cool Pets collection experienced back-to-back hiccups …

Ethereum's native token Ether (ETH) looks poised to hit $3,500 in the coming sessions as it reclaimed a historically strong support level on Feb. 5. Ethereum price back above key trendline ETH price rising above its 50-week exponential moving average (50-week EMA; the red wave in the chart below) means the price also inched above $3,000, a psychological support level that may serve as the ground for Ether's next leg up. The 50-week EMA was instrumental in maintaining Ether's bullish bias across 2020 and 2021. For instance, it served as a strong accumulation zone during the market correction in the …

An uptick in trading volume is one of the key components of a digital asset’s healthy market outlook. It indicates both robust liquidity and a surge in fellow traders’ enthusiasm for the token. The relationship between the asset’s price and trading volume is a nuanced one: Volume spikes often trail strong rallies as more and more traders hop on the bandwagon in the hopes of a ride to the moon. Yet, in some cases, it is surging trading volume that leads to price appreciation. In such a scenario, getting alerted to anomalous trading activity around a token can help crypto …

The past few months have been less than pleasant for Bitcoin (BTC) bulls, but they are not alone. Persistent comments from the United States Federal Reserve hint at plans to raise interest rates in 2022 and thi is causing investors to seek protection in inflation-protected bonds. The monetary authority signaled its intention to substantially raise the benchmark interest rate and they will also gradually reduce the monthly purchase of debt assets. Even though some crypto investors deem Bitcoin digital scarcity as inflationary protection, that does not change its volatility. In turn, it causes the asset price to move in tandem …

In the last two weeks, Azuki, Bored Ape Yacht Club, CloneX, and Mutant Ape Yacht Club have seen significant increases in floor prices and total sales volume. Over the last 7 days alone, all four projects have generated an estimated $365.9 million in value according to data from OpenSea. While the crypto market is steadily recovering from its lengthy bloodbath, NFT marketplaces like LooksRare and OpenSea have consistently generated about $100 million in daily total volume. It seems that crypto Twitter is expressing their speculation on the recent market pump to blue chip momentum while others are hopeful their holdings …

Solana (SOL) became one of the worst performers among the top cryptocurrencies on Feb. 3 as traders assessed its links with the second-biggest hack to date. $325M worth of wETH gone SOL price dropped by 5.50% to below $96.50 as Wormhole, a bridge between Solana and Ethereum blockchains, reportedly lost $325 million worth of Wrapped Ethereum (wETH) due to a technical vulnerability. Prior to the hack on Wednesday, SOL was trading as high as $112. Solana security hole needs fixing asap? Seems their consensus proceeds with only 33% of the nodes Hard math proofs show you need 66%+ for safety. …

Canada-based Purpose Bitcoin ETF attracted over $38 million worth of Bitcoin (BTC) this Tuesday, its third-largest daily inflow to date. According to data provided by Glassnode, investors poured about 1,054 BTC into the fund, marginally lower than the inflows recorded on Dec. 6 last year. However, the capital injection still came out to be almost half the amount that entered the Purpose Bitcoin ETF on its debut on Feb. 22, 2021 — over 2,250 BTC. Investors buying the dip? Bitcoin ETFs mimic the cryptocurrency's spot price performance, thus allowing investors to gain exposure in its market without holding the actual …