Category Archives: Ethereum
Binance POR: Ethereum holdings declined while Bitcoin and USDT … – Investing.com
Crypto.news - In Binances 10th proof-of-Reserves (POR), Ethereum (ETH) holdings decreased, while Bitcoin (BTC) and Tether (USDT) remained stable or slightly increased.
Binance published its 10th POR amid liquidity concerns, offering the public a look into the state of customer assets and holdings.
The disclosure reveals mixed trends: Bitcoin and Tether deposits have stayed steady or slightly grown, but Ethereum holdings have dropped by 4.3%.
Key figures from Binances reserves showed that Bitcoin deposits stood at around 588,000 BTC while there was approximately 3.89 million ETH, down 4.3%. Meanwhile, the exchange held $15.44 billion of USDT, up 1%.
The latest POR revealed that Binance held 4.71 million ETH and 276,215 BTC in cold storage.
These figures complement the user deposits, which stood at 1.18 million ETH and 311,821 BTC on the BNB Chain.
Meanwhile, Binance held $13.6 billion of USDT, juxtaposed with users $1.86 billion on BNB Chain.
While Bitcoin deposits remained relatively stable, there was a 4.3% decrease in Ethereum assets and a 1% increase in USDT holdings. This suggests changing user sentiment, possibly influenced by market conditions or perceptions of asset stability.
For the past month, there have been growing concerns about Binances market position.
Sudden exits of several high-profile executives, regulatory pressure, the discontinuation of BUSD, and partnership termination from VISA and Mastercard (NYSE:MA), caused jitters.
Binances POR not only ensures its financial strength but also provides insights into asset allocation trends among its large user base.
This release highlights Binances dedication to asset security and transparency, serving as a means to confirm that it has enough reserves to safeguard customer holdings, enhancing its credibility in a competitive and frequently unstable market.
This article was originally published on Crypto.news
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Binance POR: Ethereum holdings declined while Bitcoin and USDT ... - Investing.com
Ethereum and Altcoins Poised for Bull Run: Michal van de Poppe – Crypto News Flash
Popular cryptocurrency analyst Michal van de Poppe is of the opinion that Ethereum (ETH) and many other altcoins are about to enter a bull run.
The widely-followed crypto trader took to X (formerly Twitter) to inform his followers that he has been spending some time analyzing Bitcoin dominance (BTC.D) charts which usually give an insight into how much of the global crypto market capitalization is attributed to Bitcoin.
Based on Poppes analysis, the BTC.D chart is likely going to repeat its late 2019 to mid-2020 market structure when it respected the 200-week Exponential Moving Average (EMA) as resistance. Beyond the crypto traders speculation, a bearish BTC.D chart is often perceived as a positive sign for altcoins.
This is because it suggests that the prices of altcoins may rise faster than that of the leading cryptocurrency by market cap, BTC.
According to Michal van de Poppe, the overall sentiment is that despite the odds, the markets might continue to fall. Now, Bitcoins dominance is down since the test of the 200-week EMA, which is also in line with the previous cycles. Seeing that the Bitcoin halving event is about 8 to 10 months away, it is expected that altcoin prices will surge instead of a bear market. The crypto analyst added.
And yes, of course, if Bitcoin falls another 10% in September, the US dollar values of altcoins will start to fall too. But did we see that happen in the previous corrections? Not entirely. Weve seen a case where the BTC pairs of altcoins are bouncing up. Thats a slight sign of strength. If that continues to happen, were on the edge of having breakouts on altcoins across the board.
Furthermore, Michal mentioned that he is bullish on ETH against BTC. He says there is a high chance that the low on Ethereum against Bitcoin as well has already happened. He believes that the present situation is the case of the low 252 days prior to the halving of Bitcoin. The coming of approval for ETH futures Exchange Traded Fund (ETF) from the United States Securities and Exchange Commission (SEC) which is expected in the next month is also seen as an important trigger.
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The crypto analyst concluded by stating that the bull market always starts when nobody expects it and, this might be the period this will happen.
His speculations are yet to be confirmed but certain green movements have been observed amongst altcoins today. Pepe Coin (PEPE) which was previously drowning alongside Litecoin (LTC), is now exhibiting bull signals and has surged by almost 1% in the past 24 hours, trading at a market value of $0.0000007945. Coinbase-linked Astar Network (ASTR) is equally doing well with a price jump of almost 6% in the last 24 hours and at the time of this writing, ASTR was trading at $0.05517.
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Ethereum and Altcoins Poised for Bull Run: Michal van de Poppe - Crypto News Flash
Surge In Crypto Cyber Threats: Binance’s $1M Refund, Ethereum’s $24M Loss, FBI’s Stake.com Alert – Benzinga
September 7, 2023 6:08 PM | 1 min read
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The cryptocurrency worldis under escalating cybersecurity threats, as evident from three significant incidents involving Binance (CRYPTO: BNB), Ethereum (CRYPTO: ETH)and a revealing FBI alert concerning the Stake.com theft.
Leading this wave of cyber threats is a recent debacle at crypt exchange Binance,which found itself compensating users with 1 million Tether (CRYPTO: USDT)), worth$1 million.
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This reimbursement is tied to a liquidity crunch concerning the CyberConnect (CRYPTO: CYBER) token on the Upbit exchange, which in turn resulted in Binance users being prevented from redeeming their staked CYBER.
In another alarming incident, an Ethereum wallet holder was swindled out of $24 million in derivatives due to a sophisticated phishing attack.
The culprits lured the victim with malicious links, leading to the unauthorized siphoning of Rocket Pool ETH (CRYPTO: rETH) and Lido staked ETH (CRYPTO: stETH).
Also Read:Riot Platforms Analysts Expect Bitcoin Mining Stock To More Than Double
Amid these cybersecurity concerns, the FBI's identification of North Korea's Lazarus Group behind a $41 million heist from Stake.com underscoredthe growing audacity and sophistication of cybercriminals in the crypto realm.
These escalating threats to the digital currency ecosystem will be a central focus at the forthcoming Benzinga's Future of Digital Assets conference.
The event will foster a critical discussion on these breaches and their broader implications for the digital currency landscape, emphasizing the urgent need for bolstered cybersecurity measures in the sector.
Read Next:SEC To Approve Multiple Spot Bitcoin ETFs In October? JPMorgan Analysts Bets 'Yes'
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Ethereum derivatives market cools as prices extend decline – AMBCrypto News
In the current cycle, activity across Ethereums [ETH] derivatives markets have fallen below levels observed in 2021 and 2022, Glassnode found in a new report.
ReadEthereums [ETH] Price Prediction2023-24
According to the on-chain analytics firm, the average daily trade volume across Ethereums futures and options markets has fallen to just $14.3 billion, which is around half the average volume over the last two years.
Between 2021 and 2022, the average daily trade volume across these markets was $26.08 billion. With increased liquidity flush out, last weeks average daily trade volume was less than $10 billion, Glassnode found.
In anticipation of the 12 April Shanghai Upgrade, Ethereums futures markets saw increased activity. According to data from Glassnode, Ethereum futures open interest, tracked on a 30-day small moving average, between 1 January and 12 April had climbed by 10%.
When Shapella went live, futures open interest totaled $ 5.18 billion. However, as many viewed the upgrade as the last major speculative event for the asset, futures market participants began to exit their positions.
This resulted in a steady decline in open interest. As of 4 September, this was $4.32 billion, dropping below its 1 January level.
Ethereums options market, on the other hand, excelled, Glassnode found. According to the report, this market has seen over 256% uptick in daily trade volume since the beginning of the year. As of 4 September, this stood at $5.48 billion.
At press time, ETH exchanged hands at $1,621, per data from CoinMarketCap. As accumulation slows amongst daily traders, ETHs key momentum indicators indicate climbing sell-offs.
Is your portfolio green? Check out theETH Profit Calculator
On a daily chart, the coins Stochastic RSI (StochRSI) has trended downward since 31 August. At press time, the indicators %K line (blue) rested below 50 at 46.08. In a downward-facing position, ETHs distribution continues to outpace accumulation.
Likewise, the coins On-Balance-Volume (OBV) has dwindled since mid-August. It was 23.971 million at press time, having fallen by 1% in the last three weeks. When an assets OBV declines in this manner, it means that the volume of selling has outweighed the buying.
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Ethereum derivatives market cools as prices extend decline - AMBCrypto News
GenZ Investor Who Invested In Bitcoin, Ethereum, Dogecoin And … – Investing.com UK
Benzinga - by Mehab Qureshi, Benzinga Staff Writer.
Ethan Nguonly, a 22-year-old software engineer, began investing in the stock market with the guidance of his parents before he even reached his teenage years. Today, his investment portfolio includes close to $135,000 in retirement and brokerage accounts, as well as ownership of two houses.
However, Nguonly reveals that his journey to financial success was not without a significant misstep.
What Happened: Nguonly in an interview with CNBC disclosed that between November 2021 and June 2022, he faced losses of approximately $80,000 due to his involvement in margin investing with cryptocurrencies. This figure encompassed $30,000 of his original investment capital and an estimated $50,000 in unrealized gains.
Margin investing is a strategy that allows investors to borrow funds from a broker in order to increase their buying power and investment capacity. By leveraging borrowed money, investors can potentially amplify their returns if their investments perform well. However, its important to note that margin investing also increases the risk of losses, as any downturn in the market can magnify the impact on the borrowed funds
Despite already having invested around $40,000 in prominent cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), alongside a few hundred dollars in altcoins like Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE), he decided to venture further. He chose to invest an additional $15,000 on margin, hoping to capitalize on Bitcoins price surge.
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Why It Matters: Nguonly experienced a brief moment of success as the value of Bitcoin soared, stating, I was up about $50,000 as the price of Bitcoin reached its all-time high. However, towards the end of 2021, the cryptocurrency market took an unfavorable turn, resulting in Bitcoins price plummeting by over 70% by the summer of 2022.
Learning from his $80,000 mistake, Nguonly now advises others to exercise caution, stating, Only invest money you have and dont go un-leveraged into very speculative investments.
Nguonly still retains some investments in cryptocurrencies, primarily focusing on Bitcoin and Ethereum, while avoiding altcoins.
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Price Action: At the time of writing, BTC was trading at $26,267.75, up 1.42% in the last 24 hours, according to Benzinga Pro.
Read Next: Bitcoin, Ethereum, Dogecoin Spike After JPMorgan Enters Blockchain Deposit Tokens: Analyst Says BTC Is Going Higher Soon
Illustration via Shutterstock
2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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GenZ Investor Who Invested In Bitcoin, Ethereum, Dogecoin And ... - Investing.com UK
Shimmer Nears Milestone to Bridge IOTA and Ethereum: EVM Compatibility Looms – The Currency Analytics
In the dynamic world of blockchain technology, where innovation knows no bounds, Shimmer emerges as a beacon of progress, poised to revolutionize the landscape. The network, dedicated to advancing major IOTA innovations, is now drawing closer to a momentous milestone that promises to bridge the gap between IOTA and Ethereum. The impending Shimmer EVM launch holds the promise of creating a bridge to Ethereum compatibility, opening new horizons for blockchain enthusiasts and the broader digital economy.
Shimmer recently offered an insight into its EVM development progress, highlighting the dedicated efforts of its smart contracts team in rigorously testing and addressing critical bugs. These crucial steps are instrumental in ensuring a successful launch that will pave the way for exciting possibilities in the world of blockchain technology.
At its core, Shimmer represents the future of blockchain, striving to make blockchain technology more accessible, efficient, and compatible with the broader digital ecosystem. This commitment to progress is not just for the crypto elite but for every individual, business, and organization seeking to leverage the potential of decentralized finance and digital assets.
Shimmer: A Gateway to the Future
Shimmer, with its IOTA foundation, stands as a testament to the relentless pursuit of innovation in the blockchain sphere. While blockchain technology has made significant strides over the years, it has also faced challenges, including interoperability issues between different blockchain networks.
Shimmer aims to tackle this challenge head-on by enabling seamless compatibility with Ethereum. This compatibility would allow assets and applications to flow freely between the two networks, unlocking a world of opportunities for developers, businesses, and users alike.
Imagine a future where digital assets can move effortlessly between IOTA and Ethereum, where smart contracts are executed seamlessly, and where decentralized applications (dApps) thrive in a borderless digital economy. Shimmer is the bridge that can turn this vision into reality.
Shimmers EVM Development: Nearing the Finish Line
The latest update from Shimmers smart contracts team indicates that the EVM development is progressing steadily. The teams dedication to thorough testing and bug fixes underscores their commitment to delivering a robust and secure platform.
In the world of blockchain, security is paramount. Shimmers meticulous approach to identifying and rectifying critical bugs ensures that users can trust the platform with their assets and transactions. This focus on security sets the stage for a smooth and successful EVM launch.
The smart contracts teams hard work and attention to detail are not just about launching a product; its about launching a new era in blockchain technology. The compatibility between IOTA and Ethereum will open doors to a vast ecosystem of applications, services, and opportunities that were previously unimaginable.
The Promise of Interoperability
Interoperability is the cornerstone of Shimmers mission. In the current blockchain landscape, different networks often operate in isolation, hindering the seamless flow of assets and data. Shimmers push for Ethereum compatibility is a significant step towards breaking down these barriers.
Once the Shimmer EVM is live, users will have the ability to transact seamlessly between IOTA and Ethereum networks. Whether its transferring digital assets, executing smart contracts, or participating in decentralized finance (DeFi) activities, Shimmer will serve as the conduit for a connected blockchain world.
Unlocking New Possibilities
The impending Shimmer EVM launch is not just about compatibility; its about unlocking new possibilities. Developers will have the freedom to build applications that harness the strengths of both IOTA and Ethereum. This synergy can lead to innovations that have the potential to reshape industries and redefine how we interact with technology.
Businesses can explore new avenues for growth by tapping into the combined power of these two blockchain giants. From supply chain optimization to tokenizing assets, the opportunities are vast and diverse.
Shimmers Commitment to Excellence
Shimmers journey towards Ethereum compatibility is a testament to the dedication and expertise of its team. The world of blockchain technology is a rapidly evolving one, and staying at the forefront of innovation requires continuous effort and a relentless pursuit of excellence.
The smart contracts teams diligence in testing and fixing critical bugs demonstrates Shimmers commitment to delivering a secure and reliable platform. In a space where security breaches can have far-reaching consequences, Shimmers unwavering focus on safety is commendable.
Joining Shimmer on the Path to Progress
As Shimmer approaches this significant milestone, it invites blockchain enthusiasts, developers, businesses, and users from all walks of life to join in the journey. The blockchain revolution is not an exclusive club; its a global movement that has the potential to empower individuals and transform industries.
Keep an eye on Shimmers progress, for it represents a pivotal moment in the blockchain story. The bridge to Ethereum compatibility is within reach, and the possibilities it unlocks are boundless.
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Ethereum staking services agree to 22% limit of all validators – Cointelegraph
At least five Ethereum liquid staking providers have either imposed or are working to impose a self-limit rule in which they promise not to own more than 22% of the Ethereum staking market seen as a move to ensure the Ethereum network remains decentralized.
Among the Ethereum staking providers either already committed or are working to commit to the self-limit rule include Rocket Pool,StakeWise, Stader Labs and Diva Staking,according to Ethereum core developer Superphiz.
Puffer Finance, another liquid staking service, also announced its commitment to the self-limit.
The proposal presumably aims to address concerns of Ethereum staking becoming increasingly centralized.
As to why the self-limit was proposed at 22%, Superphiz explained that because 66% of validators need to agree on the state of Ethereum, setting the limit below 22% means at least four major entities must collude in order for the chain to reach finalization.
Finality is the point where transactions on a blockchain are considered immutable, supposedly ensuring that transactions within a block cannot be altered.
The idea was proposed by Superphiz in May 2022 when he questioned whether a staking pool would be willing to put the health of the chain before its own profits.
Interestingly, the largest Ethereum liquid staking provider, Lido Finance, voted by a 99.81% majority not to self-limit back in June.
They have expressed an intention to control the majority of validators on the beacon chain, Superphiz said in an Aug. 31 post.
Lido currently dominates the Ethereum staking market, accounting 32.4% of all staked Ether, while the next entity, Coinbase, accounts for only 8.7% of the market, according to data from Dune Analytics.
One industry pundit, Mippo, explained on Aug. 31 that the self-limit proposal has nothing to do with Ethereum alignment a principle understood to enable credible neutrality and permissionless innovation on Ethereum.
Mippo claimed those trying to push the proposal wouldnt make way if they were in Lidos position.
Related: Ethereum is about to get crushed by liquid staking tokens
Everyone is doing the economically selfish and rational thing here, Mippo concluded.
Folks in the ETH community should not shame more user-friendly solutions as greedy products, said another observer.
However, others were more wary of the potential centralization issues at hand, describing Lidos market share dominance as disgusting and selfish.
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Ethereum staking services agree to 22% limit of all validators - Cointelegraph
Bitcoin, Ethereum Trading Volumes Headed for Worst Quarter Since 2019 – Decrypt
Bitcoin's spot trading volumes for the current quarter have totaled $721.10 billion, according to CoinGecko data.
If September's volumes mirror those of July and August, it will mark the lowest trading volumes for a quarter since Q1 2019. Quarterly trading volumes hovered over $2 trillion for most of the time between 2019 and 2023.
Over the previous two months, Bitcoin saw trading volumes of $345.89 billion and $354.84 billion, respectively.
If conditions remain unchanged and September's volumes hover around $350 billion, the quarterly trading volumes would come close to $1.05 trillion.
For comparison, last quarter, the total quarterly trading volumes were $1.25 trillion, marking a potential 14% decline month over month.
CoinGecko data shows that the total trading volume for Bitcoin in the first quarter of 2019 was $541.3 billion.
Bitcoin quarterly trading volumes. Source: CoinGecko.
Bitcoin quarterly trading volumes. Source: CoinGecko.
The conditions are similar for Ethereum (ETH).
In July and August, ETH recorded trading volumes of $232.06 billion and $212.92 billion, respectively.
If Ethereums September trading volumes reach approximately $220 billion, the cumulative quarterly trading volume for ETH would be just over $650 billion, a level not seen since 2019.
In Q4 2019, the total spot trading volumes for ETH amounted to $740.64 billion.
Ethereum quarterly trading volumes. Source: CoinGecko.
Ethereum quarterly trading volumes. Source: CoinGecko
According to a previous CoinGecko report, spot trading volumes for the entire crypto market on centralized crypto exchanges dropped by 43% in the second quarter of 2022.
Institutional trading firm Genesis Trading said in its last quarter report that derivatives will likely play a crucial role in the future growth of crypto volume, with spot market liquidity suffering and spot order book depth chronically flagging.
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Bitcoin, Ethereum Trading Volumes Headed for Worst Quarter Since 2019 - Decrypt
September Is Going To Be CrazyA New Secret Binance Filing Could Be About To Rock The Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin And Solana Price -…
BitcoinBTC and cryptocurrencies have been buffeted by surprise headwinds over the last few weeks (with a leak suggesting Elon Musk could be about to cause crypto price chaos).
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The bitcoin price, now trading at almost double its late 2022 price, has swung wildly in the build-up to what could be an explosive September, dragging the price of ethereum, BNBBNB, XRPXRP, cardano, dogecoin and solana with it.
Now, the bitcoin and crypto market is on alert after the U.S. Securities and Exchange Commission (SEC) filed a secret, sealed motion in its case against Binance that includes more than 35 exhibitswith one respected crypto investigator predicting September will be "crazy."
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"Filing any court document under seal is a rare move by the SEC," John Reed Stark, the SEC's former office of internet enforcement chief, posted to X (Twitter). "The SEC is a civil (not a criminal) enforcement agency; thus, in stark contrast to criminal prosecutorial filings, SEC motions (and enforcement actions) are typically filed openly and free for everyone to read."
Earlier this year, the SEC shocked the bitcoin and crypto world when it sued first Binance, the world's largest crypto exchange, and then Coinbase, the largest U.S.-focused crypto exchange. The SEC accused Binance of violating federal securities laws by selling unregistered securities to the public through its BNB cryptocurrency and the BUSDBUSD Binance-branded, dollar-pegged stablecoin.
Stark suggested the SEC, led by chair Gary Gensler, could be either trying to avoid interfering with a criminal investigation or could be worried an unsealed motion could put a witness at risk.
"Under any circumstance, that this SEC seal-seeking filing is unusual, odd and uncommon cannot be overstated," Stark wrote. In my almost 20 years ... I cant recall ever seeking to file a motion or any other court document under seal."
Usually, the "SEC wants its messages heard loud and clear to deter future securities violations," Stark added, with the sealed motion sparking wild speculation the agency is about to drop a bombshell on the crypto market.
Reacting to the filing, investigative YouTuber Stephen Findeisen, better known as Coffeezilla, posted to X: "September is going to be crazy."
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The secret motion comes as the bitcoin and crypto market is already on tenterhooks waiting for the SEC to make an "approve," "deny," or "delay" decision on at least five spot bitcoin ETF bids in early September from asset managers that look after a combined $15.5 trillion.
Following crypto asset manager Greyscale's legal victory over the SEC this week, in which a judge called on the SEC to explain why it had blocked Greyscale from converting its Greyscale Bitcoin Trust into a fully-fledged spot bitcoin exchange-traded fund (ETF), expectations have soared that a spot bitcoin ETF approval could be imminent.
I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com.Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.
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Ethereum (ETH) on Verge of Death Cross – U.Today
Arman Shirinyan
Despite modest price action, death cross approaches Ethereum
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Currently trading at $1,705, Ethereum is on the brink of experiencing a death cross, a technical indicator that often signals a bearish trend. However, it is essential to note that while a death cross is a significant event, it is not a foolproof predictor of market behavior.
A death cross occurs when a short-term moving average, typically the 50-day moving average, crosses below a long-term moving average, usually the 200-day moving average. This crossover is often interpreted as a bearish signal that could indicate a substantial drop in the asset's price. Conversely, a golden cross, where the short-term moving average crosses above the long-term moving average, is considered a bullish signal.
The price of Cardano has been struggling for a while, but the recent break in RSI divergence seemed to have given it a much-needed boost. However, the current price of $0.265 suggests that the market is still not entirely convinced of Cardano's potential. The lack of significant volume accompanying this price increase raises questions about the sustainability of this upward movement.
The RSI divergence break is generally a strong bullish signal, but in Cardano's case, it appears to be more of a blip than a trend. The lack of conviction among investors is evident from the trading volume, which has not shown a significant increase. This tepid response from the market makes the current upward movement a questionable trend continuation.
Dogecoin (DOGE) continues to defy market expectations, maintaining its upward trajectory even as the crypto market cools off following the Grayscale v. SEC decision. As of the latest data, Dogecoin is trading at approximately $0.06, showing resilience in a somewhat volatile market.
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The recent price action of Dogecoin is intriguing, to say the least. While many expected the meme coin to lose steam after the initial euphoria surrounding the Grayscale v. SEC decision subsided, DOGE has managed to hold its ground. This could be attributed to improving market sentiment that is buoying the coin beyond its usual speculative nature.
The Grayscale v. SEC decision had a significant impact on the crypto market, driving up prices across the board. While the initial excitement has cooled off, leading to a consolidation phase for many cryptocurrencies, Dogecoin seems to be an exception. Its sustained growth suggests that the coin has more going for it than just short-term speculative interest.
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