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Bitcoin ‘held up very well’ despite biggest exchange inflow since March 2020 crash

Bitcoin (BTC) has performed “very well” as traders have been sending more coins to exchanges than at any time since the March 2020 crash.

Data from on-chain monitoring resources CryptoQuant and Glassnode shows that BTC exchange inflows hit a one-year high on Thursday.

Nearly 30,000 BTC hits exchanges

Bitcoin saw intense pressure from sellers . . . → Read More: Bitcoin ‘held up very well’ despite biggest exchange inflow since March 2020 crash

Shanghai Man: Aping out of gorilla token, digital dollar Biden its time… and more

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.

Memecoin culture clash

Feed the gorillas token, or FEG, was a source of drama after memes were posted of Chinese . . . → Read More: Shanghai Man: Aping out of gorilla token, digital dollar Biden its time… and more

Oh where, oh where have Ethereum bulls gone? Sub-$4K ETH fails to entice traders

Cryptocurrency price corrected sharply today, including Ether (ETH), but this is a short-term move which is not reflective of the more macro-level events which still paint a bullish picture for assets like Ether and Bitcoin.

In the last 30 days, Ether price gained 96%, moving from $2,138 to $4,200 on May 11. Normally . . . → Read More: Oh where, oh where have Ethereum bulls gone? Sub-$4K ETH fails to entice traders

Alpha Homora defies market slump, bolsters TVL and token price on v2 relaunch

After a rocky first quarter, decentralized finance (DeFi) platform Alpha Homora announced the relaunch of its v2 leveraged yield farming program today — and so far both traders and users are celebrating as both total value locked (TVL) and ALPHA token prices soar. 

The version 2 of the platform, which allows for leverage . . . → Read More: Alpha Homora defies market slump, bolsters TVL and token price on v2 relaunch

Ethereum bulls maintain control ahead of Friday’s $730M ETH options expiry

Ether (ETH) initiated a rally on April 25, which resulted in a 90% gain that pushed the price to $4,200. The nonstop action has been fueled by an incredible increase in decentralized finance (DeFi) applications, where the total value locked has surpassed $74 billion, a 51% increase in 18 days.

This positive momentum has . . . → Read More: Ethereum bulls maintain control ahead of Friday’s $730M ETH options expiry

Price analysis 5/13: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI

Tesla CEO Elon Musk tweeted on May 13 that the company will stop accepting Bitcoin (BTC) payments for its vehicle purchases, citing “rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal.”  Shortly after the announcement, Bitcoin price dropped by 17% to hit a new local low at $46,000.

While Musk’s . . . → Read More: Price analysis 5/13: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI

Ratio of Ether’s market cap doubled Bitcoin in the last year – Pantera Capital

The market capitalization of Ether (ETH) has increased at a much faster rate than Bitcoin’s (BTC) over the past year, highlighting the relative outperformance of ETH versus BTC over that period. 

In its latest Blockchain Letter, cryptocurrency investment manager Pantera Capital charted Ether’s growth trajectory. “The ratio of ethereum’s market cap to Bitcoin’s market . . . → Read More: Ratio of Ether’s market cap doubled Bitcoin in the last year – Pantera Capital

Shiba Inu: ‘Dogecoin Killer’ Slayed after Tesla Bitcoin Ban

Bitcoin, Shiba Inu, Dogecoin Talking Points: Elon Musk remains a key catalyst of crypto volatility, illustrated again over the past week Shiba Inu, the ‘Dogecoin killer’ slayed in Bitcoin blood bath Dogecoin falters but bounces back above $0.40 Advertisement

The past 24 hours have been brutal for the cryptocurrency realm after Tesla CEO . . . → Read More: Shiba Inu: ‘Dogecoin Killer’ Slayed after Tesla Bitcoin Ban

Oil Price Stuck in May Opening Range After Failing to Test March High

Oil Price Talking Points

The price of oil appears to be stuck within the opening range for May amid the failed attempt to test the March high ($67.98), and looming developments in the Relative Strength Index (RSI) may warn of a larger correction in crude as the indicator appears to be threatening the . . . → Read More: Oil Price Stuck in May Opening Range After Failing to Test March High

Unstoppable Domains’ .crypto websites now available via Brave browser

Major privacy-focused browser Brave is the latest browser to integrate support for decentralized domains by blockchain domain name provider Unstoppable Domains.

Brave announced Thursday that its browser now provides native support for the crypto domain name company, allowing users to seamlessly access “.crypto” domains via desktop and Android applications.

The new feature unlocks access . . . → Read More: Unstoppable Domains’ .crypto websites now available via Brave browser

Mark Cuban counters Elon Musk, says Mavs will continue to accept Bitcoin

Billionaire investor Mark Cuban will not be following in Tesla CEO Elon Musk’s footsteps in withdrawing support for Bitcoin (BTC) payment.

Tweeting in response to Musk on Wednesday, the Dallas Mavericks owner remarked that the Mavs will continue to accept Bitcoin, Ether (ETH) and Dogecoin (DOGE) as payment means for tickets and merchandise . . . → Read More: Mark Cuban counters Elon Musk, says Mavs will continue to accept Bitcoin

Bitcoin (BTC) and Ethereum (ETH) Crushed, DogeCoin (DOGE) Slumps 20% as Tesla Halts Bitcoin Payments

Bitcoin (BTC/USD), Ethereum (ETH/USD), and Alt-Coin Analysis and Charts: Cryptocurrency market a sea of red. Ethereum/Bitcoin spread keeps positive sentiment.

The cryptocurrency sell-off is accelerating in London trade with the market awash with double-digit losses. A market that seemed a one-way bet of late turned sharply lower earlier after cryptocurrency acolyte Elon Musk . . . → Read More: Bitcoin (BTC) and Ethereum (ETH) Crushed, DogeCoin (DOGE) Slumps 20% as Tesla Halts Bitcoin Payments

Bitcoin price fails to build $50K support as traders eye lower levels next

Bitcoin (BTC) dipped below $50,000 again on Thursday as the fallout from Elon Musk’s criticism continued to resonate.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Traders wait for telltale buy signals

Data from Cointelegraph Markets Pro and TradingView confirmed BTC/USD failing to establish $50,000 as support after initially dipping to $45,650.

Musk, speaking as CEO . . . → Read More: Bitcoin price fails to build $50K support as traders eye lower levels next

Here’s why Ethereum, Aave, ALPHA are unfazed by Bitcoin’s latest ‘Elon candle’

Bitcoin (BTC) and altcoins’ markets lost a combined total of up to $602 billion overnight in a shocker brought forth by Elon Musk.

The billionaire entrepreneur did an about-turn on his decision to accept Bitcoin for the electric vehicles offered by his company Tesla. He cited environmental concerns, noting that Bitcoin mining requires many . . . → Read More: Here’s why Ethereum, Aave, ALPHA are unfazed by Bitcoin’s latest ‘Elon candle’

SoftBank founder hesitant on Bitcoin but says it ‘can’t be ignored’

Tesla’s tag game with Bitcoin (BTC) might have triggered a race in the corporate world to invest in crypto, however, SoftBank still prefers to take a more cautious approach. Answering questions at SoftBank’s earnings news conference, SoftBank CEO Masayoshi Son admitted that he doesn’t know whethe crypto is good or bad.

“There’s a . . . → Read More: SoftBank founder hesitant on Bitcoin but says it ‘can’t be ignored’

Canadian Dollar Forecast: USD/CAD, CAD/JPY Risk of Reversal Rising

CAD, USD/CAD, CAD/JPY Analysis and Talking Points

USD/CAD | Watch Macklem for Possible Currency Comments CAD/JPY Beginning to Look Stretched on the Topside

USDCAD: Since the BoC’s hawkish taper, CAD strength has been dominant with USD/CAD dropping over 4.8% and hitting a six year low. However, with the move looking somewhat overcooked, . . . → Read More: Canadian Dollar Forecast: USD/CAD, CAD/JPY Risk of Reversal Rising

Sotheby’s crypto-powered auction sells Banksy art for $13M

Major auction house Sotheby’s has completed its cryptocurrency-enabled auction offering Banksy’s iconic protest artwork “Love is in the Air.”

According to the auction results, Sotheby’s sold the physical artwork on Wednesday for $12.9 million, significantly up from the originally estimated $3 million to $5 million. The physical artwork was offered at a Contemporary Art . . . → Read More: Sotheby’s crypto-powered auction sells Banksy art for $13M

3 reasons why Bitcoin doesn’t care about Elon Musk

Bitcoin (BTC) dived 17% when Tesla CEO Elon Musk criticized its energy consumption — but it’s already bouncing back.

On Thursday, fresh from its dip to $45,600, BTC/USD is trading above $51,000, having regained over half its lost ground. 

With the drama still spreading, Cointelegraph considers why, on a fundamental level, Bitcoin is ultimately . . . → Read More: 3 reasons why Bitcoin doesn’t care about Elon Musk

Is Gold a Good Inflation Hedge? – XAU/USD Rejected at Key Trendline, Focus on US PPI

Talking Points: Gold was unable to break above its key trendline as inflation expectations rise, picking up USD momentum along the way XAU/USD key levels to watch

Gold (XAU/USD) has been unable to hold bullish momentum in its attempt to cross the 1,850 line as the US Dollar saw a big jump in . . . → Read More: Is Gold a Good Inflation Hedge? – XAU/USD Rejected at Key Trendline, Focus on US PPI

Gemini’s crypto custody tops $30B as analyst predicts Coinbase shares will fall to $100

The Winklevoss twins’ Gemini exchange now has $30 billion worth of cryptocurrencies under custody as competition heats up among top U.S. exchanges.

In a May 11 announcement, the exchange attributed much of the growth this year to strong demand from institutional clients:

“Tracking with the impressive growth of the crypto market this . . . → Read More: Gemini’s crypto custody tops $30B as analyst predicts Coinbase shares will fall to $100

Finance Redefined: Never a dull day in DeFi! May 5–12

Never a dull day indeed. 

Today was among the busiest in recent DeFi memory, featuring a hack worth eight figures, a token dump worth upwards of eleven from none other than Ethereum co-founder Vitalik Buterin himself, a significant update on institutional adoption from Aave, and a proposal on Uniswap’s governance forums to turn . . . → Read More: Finance Redefined: Never a dull day in DeFi! May 5–12

Bitcoin, altcoins and stocks drop as inflation fears impact investor confidence

The cryptocurrency market corrected sharply on May 12 after the hype surrounding dog-themed tokens was deflated when Ethereum co-founder Vitalik Buterin dumped vast amounts of the previously hot Shiba Inu (SHIB), Dogelon Mars (ELON) and Akita Inu (AKITA) on the market and donated the proceeds to charity. 

Data from Cointelegraph Markets and TradingView shows that as . . . → Read More: Bitcoin, altcoins and stocks drop as inflation fears impact investor confidence

Dog day afternoon as Vitalik dumps multiple memecoins in the name of charity

The dog-themed race up the cryptocurrency charts came to an abrupt halt on May 12 as a majority of the previously hot meme tokens including Shiba Inu (SHIB) and Dogelon Mars (ELON) saw their prices drop more than 40% with Ethereum (ETH) co-founder Vitalik Buterin emerging as the main culprit behind the selloff. 

Data . . . → Read More: Dog day afternoon as Vitalik dumps multiple memecoins in the name of charity

Nasdaq Extends Slide, Bond Yields Spike on Fed Taper Fears

STOCK MARKET OUTLOOK: NASDAQ SINKS AS TEN-YEAR TREASURY YIELD TOPS 1.65% Nasdaq extends its selloff as tech stocks slide further due to surging bond yields The ten-year Treasury yield has climbed over 20-basis points from Friday’s bottom Fed taper timeline could be pulled forward with inflation looking not-so transitory

The Nasdaq and other . . . → Read More: Nasdaq Extends Slide, Bond Yields Spike on Fed Taper Fears

Ethereum price aims for $5K after reaching 3-year high versus Bitcoin

Ether (ETH) set a second all-time high on May 12 as the largest altcoin continued on its way to what analysts say will be $5,000.

ETH/USD 1-hour candle chart (Bitstamp). Source: Tradingview Funding rates could hold key to ETH resilience

Data from Cointelegraph Markets Pro and TradingView tracked ETH/USD as the pair put in two . . . → Read More: Ethereum price aims for $5K after reaching 3-year high versus Bitcoin

DeFi lending platform Aave reveals ‘permissioned pool’ for institutions

The banks are out of the bag: In a Tweet on Wednesday, Stani Kulechov, co-founder of decentralized finance money market protocol Aave, revealed that the Aave protocol has built a “private pool” for institutions to “practice” before getting involved with the DeFi ecosystem. 

Earlier on Wednesday, a Twitter user posted an angry tweet . . . → Read More: DeFi lending platform Aave reveals ‘permissioned pool’ for institutions

EUR/USD Rally Stalls Ahead of February High Even as ECB Slows PEPP

EUR/USD Rate Talking Points

EUR/USD pulls back from a fresh monthly high (1.2182) even as the European Central Bank (ECB) slows the pace of the pandemic emergency purchase programme (PEPP), and the exchange rate may consolidate over the remainder of the week as itsnaps the series of higher highs and lows from the . . . → Read More: EUR/USD Rally Stalls Ahead of February High Even as ECB Slows PEPP

Griff Green: Doge-loving hippy hacker steals crypto before bad guys can

The organizer of The Robin Hood Group — which once stole 10% of all circulating ETH from under a black hat hacker’s nose — wants to change the way we think about charity.

A former chemical engineer, Griff Green, 36, traded in his savings for precious metals, which he used to travel the world . . . → Read More: Griff Green: Doge-loving hippy hacker steals crypto before bad guys can

US Dollar Rockets Higher as Inflation Spikes to 4.2% in April

US DOLLAR OUTLOOK: USD PRICE ACTION RIPPING HIGHER AS INFLATION HITS 4.2% US Dollar bulls send the broader DXY Index sharply higher following red-hot inflation data EUR/USD price action plunges 50-pips as USD/JPY spikes 35-pips in immediate response Federal Reserve taper talks could intensify amid evidence of price pressures rising quickly

Markets are . . . → Read More: US Dollar Rockets Higher as Inflation Spikes to 4.2% in April

Elon Musk Hints at Tesla DOGE Alliance but Lands Short of the Moon

Dogecoin, Ether Talking Points: Ethereum (ETH/USD) Ignites hope for Alt Coins with Fresh All-Time High Elon Musk hints at Tesla Dogecoin alliance after SNL wipes out recent gains Crowd psychology remains a key catalyst for the imminent move

To learn more about crowd psychology, check out DailyFX Education

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Throughout the . . . → Read More: Elon Musk Hints at Tesla DOGE Alliance but Lands Short of the Moon

US Dollar (DXY) Forecast – US CPI and UST 10-Year Sale Hold Sway Over the USD

US Dollar Price, News, and Analysis: US inflation (April) is expected to jump to 3.6% y/y. USD41 billion 10-year USTs hit the street later in the session.

The eagerly awaited US inflation release for April – 12:30 GMT – will give traders the latest update on price pressures in the US, and expectations . . . → Read More: US Dollar (DXY) Forecast – US CPI and UST 10-Year Sale Hold Sway Over the USD

Ether breaks $500-billion market cap for the first time

Ether (ETH), the second most-valued cryptocurrency after Bitcoin (BTC), has hit a major milestone amid the ongoing price rally.

On Wednesday, Ether’s price set another historic record, surging to as high as $4,346, according to data from CoinMarketCap. Ethers market capitalization briefly surpassed $500 billion, reaching nearly $505 billion on Wednesday.

The new milestone marks . . . → Read More: Ether breaks $500-billion market cap for the first time

Bitcoin price bounces despite stocks rout as Ethereum hits new $4,350 high

Bitcoin (BTC) gained 4.3% on May 12 as cryptocurrencies recovered losses despite increasing turmoil on global stock markets.

BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview BTC price reverses upwards

Data from Cointelegraph Markets Pro and Tradingview showed BTC/USD erasing almost all the previous day’s losses on Wednesday to trade above $57,500 at the time of . . . → Read More: Bitcoin price bounces despite stocks rout as Ethereum hits new $4,350 high

Uniswap flips Bitcoin on daily revenue… and it’s more impressive than you think

Uniswap has surpassed Bitcoin in terms of daily fee generation for two days in a row.

The fee flippening was observed by crypto industry blogger Evan Van Ness citing figures from CryptoFees, a website that compares the daily fees generated by the top blockchain networks.

Uniswap has fully flipped #Bitcoin in . . . → Read More: Uniswap flips Bitcoin on daily revenue… and it’s more impressive than you think

EOS and YFI lead altcoins higher as Bitcoin and Ether bounce from swing lows

The markets were mixed on May 11 as Bitcoin (BTC) recovered from Monday’s drop to $53,000 by bouncing to $56,862 but the digital asset is still finding resistance at the $57,000 level.

Ether (ETH) also worked its way back above $4,100 but according to Cointelegraph analyst Marcel Pechman, the bullish sentiment for Ether seen . . . → Read More: EOS and YFI lead altcoins higher as Bitcoin and Ether bounce from swing lows

Dogelon Mars, Shiba Inu and Dogecoin take the lead as Bitcoin consolidates

Cryptocurrency traders awoke to an altcoin bonanza as a handful of meme tokens, along with some of the more established projects, staged double-digit rallies while Bitcoin (BTC) price slowly recovers to the $57,000 level. 

The biggest event generating conversations across the crypto sector and social media is the rise of dog-themed tokens inspired by . . . → Read More: Dogelon Mars, Shiba Inu and Dogecoin take the lead as Bitcoin consolidates

Bullish sentiment begins to fade after Ethereum all-time high at $4,200

The last couple of weeks have been nothing short of astonishing for Ether (ETH), as the cryptocurrency hiked over 80% to reach a $4,200 all-time high. Even after a 7% correction, the gains accumulated in 2021 surpass 300%, and Ether currently holds a market capitalization that exceeds $450 billion.

In the face of such . . . → Read More: Bullish sentiment begins to fade after Ethereum all-time high at $4,200

Central Bank Watch: BOE & ECB Interest Rate Expectations Update

Advertisement Central Bank Watch Overview: The BOE and the ECB won’t meet again for six weeks. Nevertheless, speculation around what they may do next continues to drive markets. Throttling back its QE program is just the beginning of the normalization process for the BOE, while rising inflation pressures may give pause to the . . . → Read More: Central Bank Watch: BOE & ECB Interest Rate Expectations Update

Hungary plans Bitcoin tax cut as part of economic recovery program

Cryptocurrency investors in Hungary could be getting a major tax break very soon, as lawmakers seek to make the central European country more competitive in the wake of the COVID-19 pandemic.

In a video that appeared on Facebook Tuesday, Finance Minister Mihály Varga outlined the government’s stimulus program through 2022. As part of . . . → Read More: Hungary plans Bitcoin tax cut as part of economic recovery program

Bitcoin Price Forecast: BTC/USD Threatens Bearish Reversal on Wedge Break

Bitcoin (BTC/USD) Price Outlook: Bitcoin Price Forecast: BTC/USD Threatens Bearish Reversal on Wedge Break

Bitcoin may be vulnerable to a deeper retracement as risk appetite waned and cryptocurrency sentiment soured to start the week. Price action has seen BTC/USD fall out of a rising wedge with price quickly cratering beneath $54,000 – its . . . → Read More: Bitcoin Price Forecast: BTC/USD Threatens Bearish Reversal on Wedge Break

USD/CAD Eyes September 2017 Low as RSI Sits in Oversold Zone

Canadian Dollar Talking Points

USD/CAD appears to be on track to test the September 2017 low (1.2061) after clearing the January 2018 low (1.2247), and the oversold reading in the Relative Strength Index (RSI) may continue to coincide with a further decline in the exchange rate like the behavior seen in December.

Advertisement . . . → Read More: USD/CAD Eyes September 2017 Low as RSI Sits in Oversold Zone

Chia network not so green? CPU mining reportedly destroys SSD in weeks

Chia Network, which emerged onto the cryptocurrency scene with the promise of cleaning up the environmental mess left by Bitcoin (BTC) miners, may not be as green as it seems.

Unlike Bitcoin, Ethereum and others, Chia Network mines coins using an alternative to the energy-intensive proof-of-work. CHIA coins are produced using only hard . . . → Read More: Chia network not so green? CPU mining reportedly destroys SSD in weeks

USD/ZAR Forecast: South African Rand Watchful Ahead of U.S. Inflation

USD/ZAR ANALYSIS ZAR pounces on favorable global factors Local manufacturing production (MAR) at 3.4% Upcoming U.S. inflation data USD/ZAR holding steady around 14.0000 Advertisement

Visit the DailyFX Educational Center to discover why news events are Key to Forex Fundamental Analysis

The South African Rand has shown its “safe-haven” appeal amongst its Emerging . . . → Read More: USD/ZAR Forecast: South African Rand Watchful Ahead of U.S. Inflation

South Koreans flock to crypto amid a heavy-handed regulation approach

In South Korea, one in three citizens either own cryptocurrencies or get paid in them. One-tenth of its population trades digital assets, and its youth unemployment rate hovers above 10%. It’s a competitive job market in the East-Asian nation, where high expenses enforce hierarchical social structures, and financial stability can seem like a . . . → Read More: South Koreans flock to crypto amid a heavy-handed regulation approach

Indonesia considers capital gains tax on cryptocurrency trades

Neilmaldrin Noor, a spokesperson for the Indonesian Directorate General of Taxes, said that the authority is considering a tax scheme for capital gains generated from cryptocurrency trades, Reuters reports Tuesday.

“It is important to know that if there is a profit or capital gain generated from a transaction, the profit is an object . . . → Read More: Indonesia considers capital gains tax on cryptocurrency trades

CBOE files another Bitcoin ETF application with the SEC

The Chicago Board Options Exchange, or CBOE, has filed Fidelity’s Wise Origin Bitcoin (BTC) exchange-traded fund with the United States Securities and Exchange Commission.

CBOE filed a Form 19b-4 on Monday seeking to list  Fidelity’s Wise Origin Bitcoin Trust Bitcoin ETF that was initially submitted to the SEC by the $4.9 trillion asset . . . → Read More: CBOE files another Bitcoin ETF application with the SEC

Kazakhstan’s government to create roadmap for developing crypto market

Kazakhstan’s government forming a roadmap to stimulate the development of the cryptocurrency industry and blockchain technology in the country.

State authorities have reviewed proposals to address the crypto industry’s development and reconsider the state’s approach to regulating crypto operations, according to a Tuesday announcement on the website of the Prime Minister of Kazakhstan.

. . . → Read More: Kazakhstan’s government to create roadmap for developing crypto market

Shiba Inu hits another exchange as SHIB deposits overwhelm Binance

Shiba Inu (SHIB) was listed on three different cryptocurrency exchanges in the past 48 hours after an explosive 966% surge in the same time frame sent the token to 18th in the market capitalization rankings.

Self-described as the “Dogecoin Killer,” SHI’s instant addition to Binance on Monday surprised onlookers, many of whom expected . . . → Read More: Shiba Inu hits another exchange as SHIB deposits overwhelm Binance

Nasdaq 100 (NDX) Crumbles as US Inflation Fears Re-Ignite

Nasdaq Price, News, and Analysis: Nasdaq slump leads global equity markets lower. US inflation fears weigh on tech stocks.

Equity markets are a sea of red in early turnover after the Nasdaq 100 and the Japanese Nikkei 225 recorded sharp losses overnight. The Nasdaq closed over 2.5% lower in the US, and ominously . . . → Read More: Nasdaq 100 (NDX) Crumbles as US Inflation Fears Re-Ignite

PS5 stock is hard to find — but sites that accept crypto are coming to the rescue

It was one of the most-anticipated releases of a games console for years — the PlayStation 5.

Sony’s latest hi-spec model also couldn’t have come at a better time. Making its long-awaited debut in November 2020, gamers had high hopes of keeping entertained during a harsh winter… and averting boredom . . . → Read More: PS5 stock is hard to find — but sites that accept crypto are coming to the rescue

Ether balances on centralized exchanges fall to lowest level since June 2019

According to analysis from on-chain analytics provider Glassnode, the sum of Ethereum on exchanges has fallen to its lowest level for almost two years.

Glassnode estimates that just 13.3 million Ether is currently held on centralized exchanges, the lowest it has been since June 2019. As such, centralized platforms hold roughly $52.4 billion worth . . . → Read More: Ether balances on centralized exchanges fall to lowest level since June 2019

Price analysis 5/10: BTC, ETH, BNB, DOGE, XRP, ADA, DOT, BCH, LTC, LINK

The astronomical rally in Ether (ETH) is not showing any signs of slowing down. The bulls easily cleared the overhead hurdle at $4,000 today, which also pushed the biggest altcoin’s market dominance to over 19%. 

It is not only Ether that is witnessing sharp buying from traders. Litecoin (LTC) and Cardano (ADA) have also . . . → Read More: Price analysis 5/10: BTC, ETH, BNB, DOGE, XRP, ADA, DOT, BCH, LTC, LINK

iExec RLC rallies 400% after big-name collaborations and Coinbase listing

Since the summer of 2020, decentralized exchanges (DEX) have been all the rage and in 2021 developers and investors continue to flock to the sector due to the ease of listing and buying into new projects.

While the method has proved fruitful for many projects, the price performance for iExec RLC (RLC), a blockchain-based . . . → Read More: iExec RLC rallies 400% after big-name collaborations and Coinbase listing

US Dollar Draws Near Key Support; EUR/USD to Two-Month Highs

US Dollar, EUR/USD Talking Points: Advertisement

It was a big week for US Dollar bears as the currency pushed down to a fresh low on the heels of a really disappointing NFP report. Stocks rallied to go along with that move of USD-weakness, leading many to point to the ‘good is bad’ theme . . . → Read More: US Dollar Draws Near Key Support; EUR/USD to Two-Month Highs

USD/CHF, USD/SEK Lose 2021 Uptrends; USD/NOK Retains Bear Flag Breakout Posture

Advertisement US Dollar Outlook: Non-Major USD-crosses Still Look Bearish

The April US non-farm payrolls report was the worst case scenario for the US Dollar: the result has been a mix of lower nominal bond yields and higher inflation expectations, curating an environment of falling real yields. Even though chatter about the Federal . . . → Read More: USD/CHF, USD/SEK Lose 2021 Uptrends; USD/NOK Retains Bear Flag Breakout Posture

Gold Price Approaches 200-Day SMA for First Time Since February

Gold Price Talking Points

The price of gold extends the series of higher highs and lows from the previous week even though the 10-Year US Treasury yield retraces the decline following the US Non-Farm Payrolls (NFP) report, and looming developments in the Relative Strength Index (RSI) may indicate higher gold prices if the . . . → Read More: Gold Price Approaches 200-Day SMA for First Time Since February

Dogecoin imitator Shiba Inu pumps 146% on Binance listing

Having emerged with the self-applied moniker of “Dogecoin Killer,” the latest cryptocurrency to succeed on laughs alone is making its way to Binance.

Shiba Inu (SHIB) burst into CoinMarketCap’s top 20 rankings just two days ago, likely a response by traders to the hype surrounding Dogecoin (DOGE). Within 48 hours the SHIB . . . → Read More: Dogecoin imitator Shiba Inu pumps 146% on Binance listing

Canadian Bitcoin ETF issuer seeks ‘green BTC’

Ninepoint Partners LP, one of Canada’s Bitcoin (BTC) exchange-traded fund issuers, has announced plans to offset the carbon footprint of its BTC ETF product.

According to a release issued on Monday, Ninepoint has inked a partnership with carbon offsetting service provider CarbonX. As part of the partnership, Ninepoint will dedicate an undisclosed portion . . . → Read More: Canadian Bitcoin ETF issuer seeks ‘green BTC’

USD/CAD Price Falls Further, Multi-Year Low Nears

Canadian Dollar Price (USD/CAD), News, and Analysis:

The ongoing weakness in USD/CAD continues with last Friday’s unexpectedly weak US NFPs the latest driver of a push lower. The technical outlook for the pair has been weak for some months now, as I highlighted one month ago, and while the pair look oversold, support . . . → Read More: USD/CAD Price Falls Further, Multi-Year Low Nears

Altcoins Surge as Bitcoin Falls Behind – Ethereum at New Record High, Dogecoin Attempts to Recover from SNL

Key Talking Points: Ethereum surpasses the $4,000 mark, just a week after crossing $3,000 Dogecoin drops over 30% after Elon’s “hustle” comments on SNL Bitcoin continues to struggle just below $60,000 Advertisement

As Bitcoin continues to struggle in its attempt to surpass the 60,000 dollar mark, altcoins are taking over the crypto market. . . . → Read More: Altcoins Surge as Bitcoin Falls Behind – Ethereum at New Record High, Dogecoin Attempts to Recover from SNL

Record fundamentals meet $4K Ethereum: 5 things to watch in Bitcoin this week

Bitcoin (BTC) is off to yet another fighting start on Monday, hitting $59,500 — is this the week we see $60,000?

After a promising but restrained weekend, BTC/USD is once again back to beating out resistance as major markets reopen.

Given the strength of underlying technicals and buyer demand, bulls may have cause for . . . → Read More: Record fundamentals meet $4K Ethereum: 5 things to watch in Bitcoin this week

BTC could trade for $250K within five years: Morgan Creek Capital CEO

Morgan Creek Capital Management founder and CEO believes Bitcoin’s next market cycle could see the asset rival gold by market capitalization and trading for more than $200,000.

While appearing on CNBC’s Trading Nation on May 9, Mark Yusko compared the rapid adoption of Bitcoin to the growth of FAANG companies — Facebook, Apple, . . . → Read More: BTC could trade for $250K within five years: Morgan Creek Capital CEO

Ethereum continues wild run, ETH price breaks $4,000 for the first time

Ether (ETH) eclipsed $4,000 for the first time on May 10, passing the psychologically significant barrier on multiple exchanges including Coinbase. The new milestone comes just a week after breaking $3,000.

ETH/USD 4-hour candle chart (Coinbase). Source: Tradingview

Last week, ETH overtook Bank of America as the 28th largest asset in the world. But . . . → Read More: Ethereum continues wild run, ETH price breaks $4,000 for the first time

Binance CEO says volatility ‘is not unique to crypto’: Data shows it’s Bitcoin’s jet fuel

During an interview with Bloomberg TV on May 3, Binance CEO Changpeng Zhao suggested that Bitcoin (BTC) “is probably less volatile” than the stock prices of Apple (AAPL) and Tesla (TSLA).

Zhao argued that crypto’s volatility was not unlike the stock market, adding: that “volatility is everywhere” and that “it is not unique to . . . → Read More: Binance CEO says volatility ‘is not unique to crypto’: Data shows it’s Bitcoin’s jet fuel

Top 5 cryptocurrencies to watch this week: BTC, BNB, ADA, LTC, LINK

Over the past week, several traders bought Dogecoin (DOGE) leading up to Elon Musk’s Saturday Night Live appearance as they expected a pump. However, the mention of Dogecoin during the monologue by Musk did not produce the rally traders were looking for and professional traders may have dumped their positions on novice traders who . . . → Read More: Top 5 cryptocurrencies to watch this week: BTC, BNB, ADA, LTC, LINK

Markets Week Ahead: Gold, EUR/USD, S&P 500, FTSE 100, Inflation, Sentiment

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Global markets were relatively calm this past week. Equity investors drove stocks higher, sending major indices like the S&P 500 to fresh all-time highs. Perhaps this was motivated by a sharply weaker US Dollar and repricing of Fed taper risk that followed a big miss on NFPs. In turn, the disappointing . . . → Read More: Markets Week Ahead: Gold, EUR/USD, S&P 500, FTSE 100, Inflation, Sentiment

The great tech exodus: The Ethereum blockchain is the new San Francisco

Remember the “Silicon Valley Tech Bubble”? In the early- to mid-2000s, the San Francisco Bay Area gave birth to some of the most storied and successful technology companies the world has ever seen. Facebook, Google, Salesforce, Twitter, Tesla, Lyft — the list itself could take up half of this article. From the palpable . . . → Read More: The great tech exodus: The Ethereum blockchain is the new San Francisco

Will Dow Jones Outperform Nasdaq 100 as Inflation Debates Heat Up?

DOW JONES FUNDAMENTALFORECAST: BULLISH Dow Jones gained 11.4% while the Nasdaq 100 fell 0.2% since early February Rising commodity prices sent the 5-year breakeven inflation rate to a 13-year high Reflation hopes may continue to buoy Dow Jones as the US and Europe prepare to ease lockdowns

The reflation theme appears to have . . . → Read More: Will Dow Jones Outperform Nasdaq 100 as Inflation Debates Heat Up?

The rise of DEX robots: AMMs push for an industrial revolution in trading

Centralized exchanges play an important role in the cryptocurrency industry. While their decentralized exchange counterparts have been growing in popularity and usage since 2020, the overwhelming majority of crypto trading volume is still concentrated on centralized exchanges. 

The supremacy of CEXs can be clearly observed in the size and popularity of trading platforms . . . → Read More: The rise of DEX robots: AMMs push for an industrial revolution in trading

Euro Forecast: EUR/USD Price Outlook Still Positive, Reaching for 1.22

Fundamental Euro Forecast: Bullish Friday’s dire US non-farm payrolls figure sent EUR/USD up sharply and if it can make a sustained break above resistance at 1.2150 then a further advance towards 1.22 seems likely. US jobs aside, the global economy is still recovering strongly from the slump caused by the Covid-19 pandemic and that . . . → Read More: Euro Forecast: EUR/USD Price Outlook Still Positive, Reaching for 1.22

Ethereum price closes in on $4K as Shiba Inu (SHIB) steals Dogecoin’s thunder

The crypto market has rallied into the weekend as Ether (ETH), Dogecoin (DOGE) and Shibu Inu (SHIB) hit new all-time highs as they lead the pack of altcoins up the market cap mountain. 

Much of the excitement behind Dogecoin’s rally has been attributed to the upcoming appearance of Elon Musk, the CEO of Tesla and . . . → Read More: Ethereum price closes in on $4K as Shiba Inu (SHIB) steals Dogecoin’s thunder

GBTC discount presents a unique challenge for Grayscale and investors

Since 2013 the Grayscale Bitcoin Trust Fund (GBTC) has offered its investors exposure to Bitcoin (BTC) through a publicly quoted private instrument. However, the trust’s convertibility and liquidity vastly differ from an Exchange Traded Fund (ETF).

Trusts are structured as companies, at least in regulatory form, and are ‘closed-end funds’ which can initially only . . . → Read More: GBTC discount presents a unique challenge for Grayscale and investors

Ether dazzles, Dogecoin fears, Elon Musk’s big night, Bitcoin boosts Square: Hodler’s Digest, May 2–8

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week Altcoins rally as bulls pile into large-cap tokens and . . . → Read More: Ether dazzles, Dogecoin fears, Elon Musk’s big night, Bitcoin boosts Square: Hodler’s Digest, May 2–8

Rari Capital falls victim to $11 million exploit

After a $11 million attack earlier today, Rari Capital is the latest decentralized finance (DeFi) protocol to fall victim to a high-priced exploit 

The platform, which builds optimized yield vaults and boutique lending pools, confirmed the attack in a Tweet and said that a full postmortem is forthcoming:

There has been . . . → Read More: Rari Capital falls victim to $11 million exploit

Gold Price Forecast: Falling Real Rates, Inflation Concerns to Buoy XAU/USD

Gold Fundamental Forecast: Bullish Falling real rates and rising inflation concerns may continue to drive bullion prices higher in the near term. However, hotter-than-expected inflation and retail sales figures could fuel tapering bets and undermine the price of gold.

Gold prices have continued to track higher in the last six weeks, pushing back . . . → Read More: Gold Price Forecast: Falling Real Rates, Inflation Concerns to Buoy XAU/USD

Art reimagined: NFTs are changing the collectibles market

Art has been serving as the ultimate source of inspiration to many people throughout all of history. In the era of cryptocurrencies and the digitized world, trends change faster than ever. For years, numerous artists have tried stepping into rapidly advancing playgrounds and grabbing their slice of pie, but now their time has . . . → Read More: Art reimagined: NFTs are changing the collectibles market

$85 million ‘Meebits’ NFT project exploited; attacker nabs $700,000 collectible

Legendary NFT developers Larva Labs were the victims of an exploit this morning, as an attacker found a way to mint a rare NFT worth over $700,000 from the “Meebits” collection. 

The attacker, 0xNietzsche, teased the exploit on Twitter this morning, saying he anticipated making “$300,000 per hour” throughout the duration of the . . . → Read More: $85 million ‘Meebits’ NFT project exploited; attacker nabs $700,000 collectible

As Bitcoin’s payment options grow, BTC true future role up for debate

In an August 2020 paper “Is bitcoin money?” Peter Hazlett and William Luther wrote that there exists only “a small corner of the internet where transactions are routinely conducted with Bitcoin serving as the medium of exchange.” But that corner may be growing into a room, or even a house now. 

“Demand for . . . → Read More: As Bitcoin’s payment options grow, BTC true future role up for debate

What are the chances BTC is actually overtaken by another crypto?

When the famous Satoshi Nakamoto first designed his masterpiece, few could possibly have imagined the almost $63,500 peak that sent investors into a frenzy. Even these days, the first-ever cryptocurrency’s price feels hard to believe at times and investors might be pinching themselves every now and then. Taking a seat alongside Bitcoin (BTC) . . . → Read More: What are the chances BTC is actually overtaken by another crypto?

US Dollar Weekly Outlook – US NFPs Massive Miss, Heavyweight Data Next Week Will Steer the US Dollar

US Dollar Price, News and Analysis: US Jobs report – massive miss against expectations and last month. Economic calendar key to the US dollars fortune

The latest US Jobs report rocked the financial market Friday, missing expectations by a huge margin, sending the greenback spinning lower against a range of currencies. The market, . . . → Read More: US Dollar Weekly Outlook – US NFPs Massive Miss, Heavyweight Data Next Week Will Steer the US Dollar

Alt season rush: Ethereum and DeFi get in shape for another hot summer

Altcoins like Ether (ETH), Dogecoin (DOGE) and Ethereum Classic (ETC) are spearheading a new alt season that seems to have taken off with a bang. Since a rising tide usually lifts all boats, there are several other cryptocurrencies that are benefiting from this growing interest in altcoins. Ether, however, may be the one generating . . . → Read More: Alt season rush: Ethereum and DeFi get in shape for another hot summer

Bitcoin (BTC) Rallying Back, Ethereum (ETH) and The Alt-Coin Market Soar to Record-Breaking Highs

Bitcoin (BTC/USD), Ethereum (ETH/USD), and Alt-Coin Analysis and Charts: Bitcoin – battling back but losing ground. Ethereum – up, up, and away. Dogecoin – potential for a huge bout of Musk-inspired volatility? SEC – cryptocurrency exchanges need a regulatory framework.

Bitcoin is paring back recent losses and is pushing higher but it is . . . → Read More: Bitcoin (BTC) Rallying Back, Ethereum (ETH) and The Alt-Coin Market Soar to Record-Breaking Highs

Australian Dollar Outlook: AUD/USD May Rise on Dovish Fed Speak After Huge NFP Miss

Australian Dollar Fundamental Forecast: Bullish Australian Dollar may continue ascent against the US Dollar ahead The record miss in US jobs data could keep the Fed dovish for longer That may keep risk appetite intact, boosting the sentiment-linked AUD

The sentiment-linked Australian Dollar pushed higher this past week, with AUD/USD touching its highest . . . → Read More: Australian Dollar Outlook: AUD/USD May Rise on Dovish Fed Speak After Huge NFP Miss

1INCH price hits a new high as the top DEX aggregator vies for DeFi dominance

As the decentralized finance (DeFi) ecosystem evolves and expands to encompass the whole of the cryptocurrency sector, the race to become the top decentralized exchange (DEX) aggregator is heating up as new entrants to the field seem to emerge on a weekly basis. 

One of the top DEX aggregators that has recently seen its . . . → Read More: 1INCH price hits a new high as the top DEX aggregator vies for DeFi dominance

Bitcoin, DOGE, Ethereum: Resilient ahead of Elon Musk SNL Appearance

Bitcoin, DOGE, Ether Talking Points: Bitcoin (BTC/USD) looks determined to break key resistance Ethereum (ETH/USD) and Dogecoin hold onto gains, at least for now Elon Musk’s appearance on Saturday Night Live (SNL) as a potential major risk event? Advertisement

It has been a relatively quiet week for BTC/USD as price action continues to . . . → Read More: Bitcoin, DOGE, Ethereum: Resilient ahead of Elon Musk SNL Appearance

Qtum price rallies 160% as the project’s focus on DeFi pays off

After rallying 1.510% in 2021, QTUM price hit a $35.70 all-time high on May 7. This relatively obscure altcoin launched in September 2017 is a fork of the Bitcoin Core 0.13 version, but it also integrates the Ethereum virtual machine (EVM) and smart contract execution capability. 

Following Bitcoin’s (BTC) April 23 crash down to . . . → Read More: Qtum price rallies 160% as the project’s focus on DeFi pays off

6 crypto-centric songs you may not have heard

While the cryptocurrency industry is mostly centered around technology and data, the people who inhabit our sector are not without their creativity. This is seen not only in the various solutions and inventions they create, but also in their artistic (and often humorous) works.

Over the years, folks of the crypto space have . . . → Read More: 6 crypto-centric songs you may not have heard

Will Lumber Prices Prick US Housing Bubble or Will Low Mortgage Rates Prevail?

Advertisement US Housing Market Outlook: There’s a lot of chatter among market participants about the state of the US housing market, which has seen its strongest run of price growth since 2006 – right before the US housing bubble burst, which helped lead to the Global Financial Crisis. Supply chain issues (e.g. closed . . . → Read More: Will Lumber Prices Prick US Housing Bubble or Will Low Mortgage Rates Prevail?

Price analysis 5/7: BTC, ETH, BNB, DOGE, XRP, ADA, DOT, BCH, LTC, UNI

Goldman Sachs has started offering its clients access to Bitcoin (BTC) trading through non-deliverable forwards, according to Bloomberg Law. Max Minton, Goldman’s Asia-Pacific head of digital assets, said that “institutional demand continues to grow significantly in this space.”

Even Citigroup plans to introduce crypto-related services due to the increasing demand from asset managers and hedge . . . → Read More: Price analysis 5/7: BTC, ETH, BNB, DOGE, XRP, ADA, DOT, BCH, LTC, UNI

British Pound Forecast: UK GDP Report to Go Unnoticed as BoE Tapers QE

British Pound Talking Points

Fresh projections coming out of the Bank of England (BoE) instills an improved outlook for the British Pound as the central bank expects economic activity to return to pre-pandemic conditions later this year, and the update to the UK Gross Domestic Product (GDP) report may generate a limited reaction . . . → Read More: British Pound Forecast: UK GDP Report to Go Unnoticed as BoE Tapers QE

Meme Stocks: What are They and Why are They so Popular?

Meme stocks have disrupted the traditional finance landscape through a growing wave of millennial traders banding together in an attempt to inflate specific stock prices. The exponential growth experienced in the majority of meme stocks has forced Wall Street and the individual trader to take notice as the online movement takes shape. However, . . . → Read More: Meme Stocks: What are They and Why are They so Popular?

Dogecoin, Tesla, GameStop – FinTwit Trends to Watch Next Week

TOP FINTWIT TRENDS – DOGECOIN ($DOGE), TESLA ($TSLA), GAMESTOP ($GME) IN FOCUS NEXT WEEK Dogecoin could be teed up for volatility with the crypto likely to get a shoutout on SNL Tesla price action has struggled to stay afloat but might see renewed buying pressure GameStop looks constructive as the stock forms what may . . . → Read More: Dogecoin, Tesla, GameStop – FinTwit Trends to Watch Next Week

Stocks Push to All-Time Highs Following NFP Miss, Gold Spikes

Dow Jones, S&P 500, Nasdaq 100 Price Outlook: Stocks Push to All-Time Highs Following NFP Miss, Gold Spikes

The Dow Jones and S&P 500 jumped to record levels Friday as traders reassessed the monetary policy landscape following a rather significant miss on non-farm payroll data. While lower than expected employment data is typically . . . → Read More: Stocks Push to All-Time Highs Following NFP Miss, Gold Spikes

How the COVID-19 Pandemic is Disrupting India’s Gold Demand

Importance of gold in India Impact of COVID-19 on gold price and gold demand Spot Gold technical analysis History of Gold in India

Traditionally,gold is deeply rooted in Indian culture and held in high regard throughout the country. Holding gold is seen as a norm in India and is used in countless . . . → Read More: How the COVID-19 Pandemic is Disrupting India’s Gold Demand

‘Unprecedented capital inflows into Bitcoin’ remove 12K BTC from Coinbase in an hour

Another day, another spike in Bitcoin (BTC) leaving major exchange Coinbase as funds pour into the largest cryptocurrency.

Data from on-chain monitoring resource Glassnode showed 12,354 BTC ($694 million) being withdrawn from the Coinbase order book in a single hour on Friday.

Coinbase sees another BTC balance squeeze

As the largest exchange in the . . . → Read More: ‘Unprecedented capital inflows into Bitcoin’ remove 12K BTC from Coinbase in an hour

Turkish government to track crypto transactions over $1,200

Crypto exchanges with a presence in Turkey must now inform the Financial Crimes Investigation Board, or MASAK, about any crypto transactions over 10,000 Turkish liras ($1,200). 

Turkish Minister of Treasury and Finance Lütfi Elvan announced the new policy on a CNN Turk live broadcast last night. 

Two weeks after a $150-million fraud involving a . . . → Read More: Turkish government to track crypto transactions over $1,200

Three reasons why EOS price has pumped 100% in three days

The EOS price is in double-digits for the first time since mid-2018 after a parabolic advance that began back in March.

According to data from Coingecko, the 20th-ranked crypto by market capitalization is currently sitting above $11.50, delivering close to 100% gains over the last three days.

First, the current EOS upward advance is . . . → Read More: Three reasons why EOS price has pumped 100% in three days

Citigroup considers crypto amid surge in customer demand on Wall Street

Citigroup is reportedly considering offering crypto-related services to its customers in response to rising demand, specifically from asset managers and hedge funds.

The financial services firm’s global head of foreign exchange, Itay Tuchman, told the Financial Times on Friday that the investment bank was already exploring the possibility of providing crypto services to . . . → Read More: Citigroup considers crypto amid surge in customer demand on Wall Street

Ethereum Classic gains 300% in one week as traders rush to buy the ‘wrong Ethereum’

The “original” yet ironically “wrong” Ethereum and Telcoin (TEL) are leading a fresh altcoin surge this week. Bitcoin (BTC) fans are already calling time on the fun.

Ethereum Classic (ETC), the pet favorite of Digital Currency Group founder Barry Silbert, is up 300% in a week.

ETC hits $180: Bull market or “casino . . . → Read More: Ethereum Classic gains 300% in one week as traders rush to buy the ‘wrong Ethereum’

Almost twice as much ETH locked in DeFi as on exchanges: Glassnode

Ether is being locked up in decentralized finance contracts at an accelerating rate this year, while the amount held on centralized exchanges continues to fall.

On May 7, on-chain analytics provider, Glassnode, shared a chart comparing the number of Ether deposited in Ethereum-based smart contracts to the number of ETH held on centralized exchanges . . . → Read More: Almost twice as much ETH locked in DeFi as on exchanges: Glassnode