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Ethereum price falls below $1.1K and data suggests the bottom is still a ways away

Ether (ETH) price nosedived below $1,100 in the early hours of June 14 to prices not seen since January 2021. The downside move marks a 78% correction since the $4,870 all-time high on Nov. 10, 2021.

More importantly, Ether has underperformed Bitcoin (BTC) by 33% between May 10 and June 14, 2022, and the . . . → Read More: Ethereum price falls below $1.1K and data suggests the bottom is still a ways away

Binance CEO plans to leverage crypto winter

Binance CEO, Changpeng Zhao, commonly known as “CZ,” said in a recent interview that a potential crypto winter is good for business.

When asked how Binance will fare during the current crypto winter following reports of recruitment freezes at Gemini and Coinbase, he answered confidently.

“It’s not the first time we’ve gone . . . → Read More: Binance CEO plans to leverage crypto winter

Ethereum crashed by 94% in 2018 — Will history repeat with ETH price bottoming at $375?

Ethereum’s native token Ether (ETH) is showing signs of bottoming out as ETH price bounced off a key support zone. Notably, ETH price is now holding above the key support level of the 200-week simple moving average (SMA) near $1,196. 

The 200-week SMA support seems purely psychological, partly due to its ability to serve as . . . → Read More: Ethereum crashed by 94% in 2018 — Will history repeat with ETH price bottoming at $375?

BTC price crashes to $20.8K as ‘deadly’ candles liquidate $1.2 billion

Bitcoin (BTC) came within $1,000 of its previous cycle all-time highs on June 14 as liquidations mounted across crypto markets. 

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price hits 18-month lows

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $20,816, on Bitstamp, its lowest since the week of December 14, 2020.

A . . . → Read More: BTC price crashes to $20.8K as ‘deadly’ candles liquidate $1.2 billion

Binance Australia CEO: Regulations will establish higher standards in crypto

As the struggle for regulatory clarity down under rages on, Binance Australia’s CEO Leigh Travers thinks that such a framework will prove the crypto industry “holds itself to a higher standard” than many believe.

Travers spoke with Cointelegraph on Tuesday about the current state of local crypto regulatory efforts and how the opportunities . . . → Read More: Binance Australia CEO: Regulations will establish higher standards in crypto

Almost $100M exits US crypto funds in anticipation of hawkish monetary policy

Institutional investors offloaded $101.5 million worth of digital asset products last week in “anticipation of hawkish monetary policy” from the United States Federal Reserve, according to CoinShares.

U.S. inflation rates hit 8.6% year-on-year at the end of May, marking a return to levels not seen since 1981. As a result, the market is expecting . . . → Read More: Almost $100M exits US crypto funds in anticipation of hawkish monetary policy

Crypto users take to Twitter to lament the ongoing market downturn

Crypto traders and investors started out the week with a major shock to the markets. As assets across the blockchain industry went into a collective dive on Monday, users took to Twitter to voice their dismay (or in some cases jubilation) with the current state of crypto.

Inflation, potential interest rate hikes, a . . . → Read More: Crypto users take to Twitter to lament the ongoing market downturn

Price analysis 6/13: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX

The United States equities markets extended their decline to start the week on June 13. The S&P 500 hit a new year-to-date low and dipped into bear market territory, falling more than 20% from its all-time high made on Jan. 4. 

The cryptocurrency markets are tracking the equities markets lower and the selling pressure . . . → Read More: Price analysis 6/13: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX

Ethereum price flash crashes to $950 on Uniswap as whale dumps 93K ETH

Ethereum’s native token Ether (ETH) fell to as low as $950 on Uniswap—a decentralized crypto exchange— this June 13, about 20% lower than its spot rate across other exchanges.

ETH/USD hourly price chart. Source: Uniswap Over $130M ETH sold in six hours

The incident happened at around 3:00 am UTC after a whale dumped . . . → Read More: Ethereum price flash crashes to $950 on Uniswap as whale dumps 93K ETH

Can the Optimism blockchain win the battle of the rollups?

Ethereum is plagued with criticisms of its less than optimal scaling capabilities and high gas prices. There have been talks about increasing the scaling capacity of the Ethereum mainnet for a while now. 

However, the Ethereum ecosystem needs a solution for scaling right now, and if Ethereum is not able to give these . . . → Read More: Can the Optimism blockchain win the battle of the rollups?

Bitcoin passes $23.8K May low as crypto market cap drops under $1 trillion

Bitcoin (BTC) faced continued selling pressure before the June 13 Wall Street open as Ether (ETH) revisited multiyear lows.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin battles for $24,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD eclipsing its 10-month lows set in mid-May.

The largest cryptocurrency faced bearish triggers on multiple fronts, these . . . → Read More: Bitcoin passes $23.8K May low as crypto market cap drops under $1 trillion

Ethereum difficulty bomb delayed but network adoption still growing

Ethereum network developers have decided to delay the difficulty bomb, a major step leading up to the highly anticipated Merge upgrade for the layer-1 blockchain.

They set the delay to two months in order to “be sure that we sanity check all the numbers before selecting an exact delay and deployment time,” according to . . . → Read More: Ethereum difficulty bomb delayed but network adoption still growing

Celsius exodus: $320M in crypto sent to FTX, user withdrawals paused

Crypto staking and lending platform Celsius may be dealing with its rumored liquidity crisis by unstaking $247 million worth of Wrapped Bitcoin (wBTC) from Aave and sending it to the FTX exchange.

Speculations among the crypto community are now flaring as the project has been moving massive amounts of wBTC, Ether (ETH) and . . . → Read More: Celsius exodus: $320M in crypto sent to FTX, user withdrawals paused

Ethereum price enters ‘oversold’ zone for the first time since November 2018

Ethereum’s native token Ether (ETH) entered its “oversold” territory this June 12, for the first time since November 2018, according to its weekly relative strength index (RSI).

This is the last time $ETH went oversold on the weekly (hasn’t confirmed here yet).

I had no followers, but macro bottom ticked it. . . . → Read More: Ethereum price enters ‘oversold’ zone for the first time since November 2018

Yuga Labs co-founder prewarns possible attack, claims Twitter insider involved

Gordon Goner, the pseudonymous co-founder of Yuga Labs, issued a warning about a possible incoming attack on their social media accounts under the Yuga Labs umbrella after receiving “credible information” that an insider from Twitter would help bypass the security of the accounts.

Yuga Labs, home to some of the most popular nonfungible . . . → Read More: Yuga Labs co-founder prewarns possible attack, claims Twitter insider involved

US SEC investigates Binance’s ICO, metaverse crypto assets up 400% YoY, and STEPN faces DDoS attacks: Hodler’s Digest, June 5-11

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 Anonymous hacker served with restraining order via NFT

In . . . → Read More: US SEC investigates Binance’s ICO, metaverse crypto assets up 400% YoY, and STEPN faces DDoS attacks: Hodler’s Digest, June 5-11

Price analysis 6/10: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, AVAX, SHIB

The United States equities markets tumbled on June 10 after the Consumer Price Index (CPI) report showed inflation soaring 8.6% from a year ago, the highest increase since 1981. The latest figures show that talks of inflation having peaked were premature and according to Bloomberg, investors are pricing in the key interest rate of 3% . . . → Read More: Price analysis 6/10: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, AVAX, SHIB

Ethereum eyes fresh yearly lows vs. Bitcoin as bulls snub successful ‘Merge’ rehearsal

Ethereum’s native token Ether (ETH) resumed its decline against Bitcoin (BTC) two days after a successful rehearsal of its proof-of-stake (PoS) algorithm on its longest-running testnet “Ropsten.”

The ETH/BTC fell by 2.5% to 0.0586 on June 10. The pair’s downside move came as a part of a correction that had started a day before . . . → Read More: Ethereum eyes fresh yearly lows vs. Bitcoin as bulls snub successful ‘Merge’ rehearsal

This key Ethereum price metric shows ETH traders aren’t as bearish as they appear

Ether (ETH) is down 25% in just a month and even the recent upgrade to a proof-of-stake (PoS) consensus on the Ropsten testnet failed to move the altcoin’s price. 

The merge is meant to address energy-use issues and open a path for higher transaction output, but the actual full transition for the Ethereum network . . . → Read More: This key Ethereum price metric shows ETH traders aren’t as bearish as they appear

DeFi contagion? Analysts warn of ‘Staked Ether’ de-pegging from Ethereum by 50%

The next big crypto crash could be around the corner due to Lido Staked Ether (stETH), a liquid token from the Lido protocol that is supposed to be 100% pegged by Ethereum’s native token, Ether (ETH).

Notably, the stETH peg could drop against ETH by 50% in the coming weeks, raising the risk of . . . → Read More: DeFi contagion? Analysts warn of ‘Staked Ether’ de-pegging from Ethereum by 50%

Brandt’s bearish ETH call — But community predicts $3K before Merge

Veteran futures trader Peter Brandt has suggested that the price of Ether (ETH) could drop to as low as $1,268 in the coming month, but the consensus view of 15,500 members of the CoinMarketCap community is that the price will have hit roughly $3,131 by June 30.

The Ethereum network is now . . . → Read More: Brandt’s bearish ETH call — But community predicts $3K before Merge

Traders target $1,400 Ethereum price after ETH drops closer to a critical support level

On June 8, the Ethereum network successfully underwent the merge to become proof-of-stake on its Ropsten testnet, but the news had little impact on ETH price. 

With the Ropsten upgrade now looking more like a “buy the rumor, sell the news” type of event, most analysts have kept a short-term bearish outlook for Ether price. Let’s take a . . . → Read More: Traders target $1,400 Ethereum price after ETH drops closer to a critical support level

Price analysis 6/8: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, AVAX, SHIB

Bitcoin (BTC) continues to trade in a range with the local tops and bottoms coinciding with increased whale activity in the region, according to on-chain analytics resource Whalemap.

The range-bound action in Bitcoin has kept the analysts guessing and a few expect the consolidation to continue for some more time, while others anticipate another . . . → Read More: Price analysis 6/8: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, AVAX, SHIB

Ethereum ‘double Doji’ pattern hints at a 50% ETH price rally by September

Ethereum’s native token, Ether (ETH), looks poised to undergo a sharp upside retracement in the coming weeks after painting a so-called “double Doji” pattern, accompanied by a few bullish technical indicators.

Ether strong support confluence meets Dojis

To recap, a Doji is a candlestick that forms when a financial instrument opens and closes around . . . → Read More: Ethereum ‘double Doji’ pattern hints at a 50% ETH price rally by September

Don’t click links: Crypto community responds to alleged Telegram ‘exposé’

This week, the crypto community’s attention was captured by an anonymous person who claimed that they will expose the misdeeds of prominent crypto influencers and top projects within the crypto space. 

The alleged whistleblower, going by the username Adyingnobody on Twitter, said that they will “tear a rift in the entire community” by . . . → Read More: Don’t click links: Crypto community responds to alleged Telegram ‘exposé’

LINK marines rejoice after Chainlink 2.0 brings a new roadmap and staking

Passive income opportunities are one of the biggest draws in the cryptocurrency ecosystem because it gives investors an easy opportunity to grow their portfolio size regardless of the day-to-day price action.

The latest token to get a bump in its price after announcing the upcoming implementation of staking is Chainlink (LINK), the decentralized oracle . . . → Read More: LINK marines rejoice after Chainlink 2.0 brings a new roadmap and staking

Aurora pays $6M bug bounty to ethical security hacker through Immunefi

On Tuesday, Ethereum (ETH) bridging and scaling solution Aurora announced it had paid out a $6 million bounty to ethical security hacker pwning.eth, who discovered a critical vulnerability in the Aurora Engine. The exploit allegedly placed over $200 million worth of capital at risk. The sum was paid in collaboration with Immunefi, a . . . → Read More: Aurora pays $6M bug bounty to ethical security hacker through Immunefi

Struggle for Web3’s soul: The future of blockchain-based identity

There is no shortage of visionary scenarios about how Web3 might unfold, but one of the latest, “Decentralized Society: Finding Web3’s Soul” — a paper published in mid-May by E. Glen Weyl, Puja Ohlhaver and Vitalik Buterin — is close to becoming one of the top 50 most downloaded papers on the SSRN scholarly . . . → Read More: Struggle for Web3’s soul: The future of blockchain-based identity

How to buy NFTs on Solana?

The burgeoning popularity of nonfungible tokens (NFTs) has led to issues like exorbitant transaction fees and congestion in the prevalent Ethereum-based ecosystem. The fee factor serves as a major deterrent to anyone wanting to execute transactions on the blockchain.

A report published by Reuters revealed that the NFT sales volume was $24.9 billion in . . . → Read More: How to buy NFTs on Solana?

Half of Asia’s affluent investors have crypto in their portfolio: Report

Affluent investors in Asia are neither shy nor ignorant about crypto, with research revealing that 52% of them held some form of a digital asset during Q1 2022. 

According to research from Accenture published on Monday, digital assets, which include cryptocurrencies, stable coins and crypto funds, made up, on average, 7% of the surveyed . . . → Read More: Half of Asia’s affluent investors have crypto in their portfolio: Report

Reserve Rights (RSR) builds momentum ahead of its long-awaited mainnet launch

Bitcoin was created to give the average person a peer-to-peer economic system and a store of wealth asset that could provide financial autonomy and access to banking, especially for people living in places where financial services are sparse or non-existent.

In the last five years, there have been a number of blockchain projects that . . . → Read More: Reserve Rights (RSR) builds momentum ahead of its long-awaited mainnet launch

Price analysis 6/6: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

After nine successive weeks of red weekly candles, Bitcoin (BTC) printed a green weekly candle on June 5. Leading into this week, buyers kept up their momentum with a strong weekly open that boosted BTC price to $31,800.

Going forward, traders might keep a close eye on the Consumer Price Index (CPI) data for May, . . . → Read More: Price analysis 6/6: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Top 5 cryptocurrencies to watch this week: BTC, ADA, XLM, XMR, MANA

The bears are trying to extend Bitcoin’s (BTC) record of nine consecutive red weekly candles to ten weeks, but the bulls are trying to avert this negative occurrence. Although sentiment remains negative, Arthur Hayes, former CEO of derivatives giant BitMEX, anticipates Bitcoin to bottom out in the range of $25,000 to $27,000.

On-chain data . . . → Read More: Top 5 cryptocurrencies to watch this week: BTC, ADA, XLM, XMR, MANA

3 reasons Ethereum price risks 25% downside in June

Ethereum’s native token Ether (ETH) has dropped more than half of its value in 2022 in dollar terms, while also losing value against Bitcoin (BTC), and now remains pinned below $2,000 for several reasons.

What’s more, ETH price could face even bigger losses in June due to another slew of factors, which will be . . . → Read More: 3 reasons Ethereum price risks 25% downside in June

Yuga Labs’ BAYC, OtherSide Discord groups breached, over 145 ETH stolen

Yuga Labs, the creator of two of the most popular ape-themed nonfungible token (NFT) offerings — Bored Ape Yacht Club (BAYC) and OtherSide — witnessed yet another orchestrated phishing attack with investors losing over 145 Ether (ETH) or nearly $260,000 at the time of writing.

OKHotshot, a blockchain detective and a member of the . . . → Read More: Yuga Labs’ BAYC, OtherSide Discord groups breached, over 145 ETH stolen

5 metrics to monitor before investing in crypto during a bear market

Cryptocurrency bear markets destroy portfolio value and they have a dangerous tendency to drag on for longer than anyone expects. Fortunately, one of the silver linings of market-wide pullbacks is that it gives investors time to re-focus and spend time researching projects that could thrive when the trend turns bullish again.

Here’s five areas to . . . → Read More: 5 metrics to monitor before investing in crypto during a bear market

Vitalik shows support for Optimism’s governance structure and OP gas proposal

Ethereum co-founder Vitalik Buterin has shown support for Optimism’s new governance structure, noting that proposals such as using the OP token for gas fees shows “explicit representation of non-token-holder interests.”

The Ethereum layer-2 scaling solution deployed the first round of its long-awaited OP token airdrop on Wednesday as part of its new governance project . . . → Read More: Vitalik shows support for Optimism’s governance structure and OP gas proposal

3 reasons why Ethereum price is pinned below $2,000

Ether’s (ETH) market structure continues to be bearish despite the failed attempt to break the descending channel resistance at $2,000 on May 31. This three-week-long price formation could mean that an eventual retest of the $1,700 support is underway.

Ether/USD 4-hour price at Bitstamp. Source: TradingView

On the non-crypto side, a number of equities-related . . . → Read More: 3 reasons why Ethereum price is pinned below $2,000

Ethereum’s Merge FOMO isn’t priced in, making a spike to $2.6K a possibility

In a May 30 tweet, Ethereum (ETH) core developer Tim Beiko confirmed that the much-anticipated Ropsten testnet trial of the Merge from proof-of-work to proof-of-stake can be expected “around June 8 or so.”

Interestingly, Ether’s price action is relatively unchanged despite the unexpected bullish announcement. There was a +10% spike on May 30, but . . . → Read More: Ethereum’s Merge FOMO isn’t priced in, making a spike to $2.6K a possibility

3 key indicators traders use to determine when altcoin season begins

It’s widely accepted that the fate of the cryptocurrency market depends largely on the performance of Bitcoin (BTC), which makes times like these for crypto traders who prefer to invest in altcoins. 

When BTC price is down, altcoins tend to follow, but as a bottoming process begins, altcoins tend to perk up during Bitcoin’s . . . → Read More: 3 key indicators traders use to determine when altcoin season begins

Community fires back at anti-crypto letter sent to US lawmakers

The increase of crypto lobbyists recently sparked an effort from anti-crypto individuals in the tech space to urge regulators through a letter to resist the influence of blockchain advocates. In response, the crypto community criticized the move and laid out counterarguments against the contents of the letter. 

Signed by 26 tech personalities, the . . . → Read More: Community fires back at anti-crypto letter sent to US lawmakers

Optimism token falls 40%, prompting calls to bar dumpers from airdrops

Optimism’s freshly launched governance token, OP, has plunged 40% since peaking at $2.10, leading members of the community to discuss baring those who dumped their tokens from future airdrops.

Cointelegraph reported on Tuesday that the Ethereum layer-2 scaling solution was overwhelmed with demand for the first OP governance token airdrop, as 5% . . . → Read More: Optimism token falls 40%, prompting calls to bar dumpers from airdrops

Price analysis 6/1: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Bitcoin (BTC) has made a tentative start to the month of June, suggesting that bears have not gone into hibernation just yet. Although Bitcoin is trading nearly 55% off its all-time high of $69,000, whales and institutions remain cautious and have not jumped into the market with gusto, according to BlockTrends analyst Caue Oliveira.

. . . → Read More: Price analysis 6/1: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

ETH/USD trading pair attracts more traders in the first quarter of 2022: report

The Ether (ETH) to the United States dollar (USD) pair has pulled the biggest number of traders from January to March 2022, according to trading platform Capital.com. 

In its quarterly report, Capital.com noted that in 2021, the most significant number of traders was held by the Dogecoin (DOGE) to USD pair. However, the . . . → Read More: ETH/USD trading pair attracts more traders in the first quarter of 2022: report

DeFi crypto wallet aims to decentralize inheritance of crypto and NFTs

The concept of cryptocurrency inheritance continues to rapidly evolve as the decentralized finance (DeFi) industry spawns more ways to make a “crypto will.”

The Israeli crypto software provider Kirobo is moving to tackle a major void in the DeFi industry by providing crypto investors with an opportunity to pass private keys or transfer . . . → Read More: DeFi crypto wallet aims to decentralize inheritance of crypto and NFTs

Optimism airdrop overwhelmed by all-time high demand: ‘Scaling is hard’

Ethereum layer-2 scaling solution Optimism has been overwhelmed with “all-time high demand” following the launch of its highly anticipated airdrop on Wednesday.

Users racing to collect their tokens were greeted with failed or delayed transactions as the Optimism team raced in the background to add additional capacity to the network.

As previously . . . → Read More: Optimism airdrop overwhelmed by all-time high demand: ‘Scaling is hard’

Chain (XCN) ignores the wider market downtrend by rallying 100%+ over the past month

May was an incredibly challenging month for the cryptocurrency market as the majority of tokens booked heavy losses as a bear market was confirmed, but not every project dropped back to pre-bull market lows.

Chain (XCN), a protocol designed to help organizations launch their own blockchain network or connect with other more established networks, . . . → Read More: Chain (XCN) ignores the wider market downtrend by rallying 100%+ over the past month

You can now clone NFTs as ‘Mimics’: Here’s what that means

In the precariousness of Web3 open-source code, iterative development and “move fast” ethos, things break. And through breaking, things are also made. A new project allows anyone to create a copy of someone else’s NFT, aptly named “Mimics.”

But how does Mimics work, and what does it mean for the NFT art market to . . . → Read More: You can now clone NFTs as ‘Mimics’: Here’s what that means

Ropsten Ethereum testnet ready for Merge ‘first dress rehearsal’

The Ropsten testnet on the Ethereum network is ready to set the stage for the “first dress rehearsal” of the Merge to adopt the proof-of-stake (PoS) consensus mechanism.

Core Ethereum developer Tim Beiko announced on Tuesday that a new Beacon Chain for Ropsten has been launched. It will serve as the precursor for . . . → Read More: Ropsten Ethereum testnet ready for Merge ‘first dress rehearsal’

Ethereum price moves toward $2,000, but analysts say it’s just another ‘relief rally’

On May 30, the cryptocurrency market experienced a much-needed bounce that saw Bitcoin (BTC) climb above $30,900 and Ether (ETH) rally 5.84% to $1,930, but analysts warn that it could be too early to expect a reversal.

ETH/USDT 1-day chart. Source: TradingView

Here’s a look at what several analysts are saying about the outlook . . . → Read More: Ethereum price moves toward $2,000, but analysts say it’s just another ‘relief rally’

Price analysis 5/30: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

After creating the dubious record of nine successive red weekly closes, Bitcoin (BTC) is attempting to make amends by starting a price recovery to end the losing streak. Analysts have repeatedly said that investors should not fear a bear market because it is one of the best times to invest in fundamentally strong projects in . . . → Read More: Price analysis 5/30: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Ethereum sell-off fears rise as crypto hedge fund moves $60M ETH to an exchange

Ethereum’s native token Ether (ETH) rose by more than 5% to reach its intraday high above $1,930 on May 30. Nonetheless, the ETH/USD pair risks facing another sell-off round due to concerns about a massive ETH inflow into an exchange.

58.7K Ether transferred to FTX in May

On May 30, the Ether address allegedly . . . → Read More: Ethereum sell-off fears rise as crypto hedge fund moves $60M ETH to an exchange

Top 5 cryptocurrencies to watch this week: BTC, ETH, XTZ, KCS, AAVE

After declining for eight successive weeks, the Dow Jones Industrial Average rebounded sharply last week to finish higher by 6.2%. However, Bitcoin (BTC) has not been able to replicate the performance of the United States equities markets and is threatening to paint a red candle for the ninth week in a row.

A positive . . . → Read More: Top 5 cryptocurrencies to watch this week: BTC, ETH, XTZ, KCS, AAVE

Price analysis 5/27: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Equities markets in the United States rallied sharply on May 25 and 26 but Bitcoin (BTC) and altcoins have not followed a similar trajectory. This suggests that traders are not confident that the crypto markets have bottomed out yet. 

On-chain analytics firm Glassnode said that the number of Bitcoin whales has been reducing and . . . → Read More: Price analysis 5/27: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

3 reasons why Bitcoin is regaining its crypto market dominance

Bitcoin (BTC) is regaining its lost crypto market dominance even as it trades nearly 60% below its record highs.

Bitcoin dominance at 6-month highs

The Bitcoin Market Dominance (BTC.D) index, a metric that weighs BTC’s market capitalization against the rest of the cryptocurrency market, jumped to around 47% on May 27, its highest since . . . → Read More: 3 reasons why Bitcoin is regaining its crypto market dominance

Terra to burn 1B UST from the community pool as holders vote for it

In another attempt to support the revival of Terra (LUNA), the community voted to burn a large amount of UST from its community pool. 

Earlier in May, Terra founder Do Kwon explained that a potential solution to the Terra debacle is to absorb the stablecoin supply. In response to this, users proposed the . . . → Read More: Terra to burn 1B UST from the community pool as holders vote for it

Buterin: How to create algo stablecoins that don’t turn into Ponzis or collapse

Ethereum co-founder Vitalik Buterin has shared two thought experiments on how to evaluate whether an algorithmic (algo) stablecoin is sustainable.

Buterin’s comments were sparked by the multi-billion dollar losses caused by the collapse of the Terra ecosystem and its algo stablecoin TerraUSD (UST).

In a Wednesday blog post, Buterin noted that the increased . . . → Read More: Buterin: How to create algo stablecoins that don’t turn into Ponzis or collapse

Falling wedge pattern points to eventual Ethereum price reversal, but traders expect more pain first

The cryptocurrency market was hit with another round of selling on May 26 as Bitcoin (BTC) price dropped to $28,000 and Ether (ETH) briefly fell under $1,800. The ETH/BTC pair also dropped below what traders deem to be an important ascending trendline, a move that traders say could result in Ether price correcting to new . . . → Read More: Falling wedge pattern points to eventual Ethereum price reversal, but traders expect more pain first

Ethereum price dips below the $1.8K support as bears prepare for Friday’s $1B options expiry

Ether’s (ETH) performance over the past three months has been less than satisfying for holders and the 50% correction since April 3 caused the altcoin to test the $1,800 support for the first time since July 2021.

Ether/USD 1-day chart at Kraken. Source: TradingView

Due to the volatility in stocks, investors had been seeking . . . → Read More: Ethereum price dips below the $1.8K support as bears prepare for Friday’s $1B options expiry

BTC price breakout due ‘relatively soon’ as Bitcoin volumes spook traders

Bitcoin (BTC) disappointed bulls on upside prior to the May 26 Wall Street open as BTC/USD returned under $29,000.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Markets “eerily calm” post FOMC

Data from Cointelegraph Markets Pro and TradingView tracked an uninspiring day for Bitcoin, with $800 of losses coming in a single hourly candle several . . . → Read More: BTC price breakout due ‘relatively soon’ as Bitcoin volumes spook traders

Ethereum Beacon Chain experiences 7 block reorg: What’s going on?

Ahead of the Merge tentatively penciled in for August, Ethereum’s Beacon Chain experienced a seven-block reorganization, or reorg, on Wednesday.

According to data from Beacon Scan, on Wednesday, seven blocks from number 3,887,075 to 3,887,081 were knocked out of the Beacon Chain between 08:55:23 to 08:56:35 am UTC.

The term reorg refers . . . → Read More: Ethereum Beacon Chain experiences 7 block reorg: What’s going on?

Polkadot parachains spike after the launch of a $250M aUSD stablecoin fund

Crypto prices have been exploring new lows for weeks and currently it’s unclear what it will take to reverse the trend. Despite the downtrend, cryptocurrencies within the Polkadot (DOT) ecosystem began to rally on May 24 and have managed to maintain gains ranging from 10% to 25%, a possible sign that certain sub-sectors . . . → Read More: Polkadot parachains spike after the launch of a $250M aUSD stablecoin fund

Brazil’s Federal Revenue now requires citizens to pay taxes on like-kind crypto trades

Brazil’s Federal Reserve (RFB) has declared that Brazilian investors in the crypto-asset market must pay income tax on transactions that involve the like-kind exchange of cryptocurrencies; for example, Bitcoin (BTC) for Ethereum (ETH).

The RFB’s declaration was published in the Diário Oficial da União and was the result of a consultation made by . . . → Read More: Brazil’s Federal Revenue now requires citizens to pay taxes on like-kind crypto trades

Price analysis 5/25: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Bitcoin (BTC) has been struggling to sustain above $30,800 since May 16, suggesting that demand dries up at higher levels. Similarly, U.S. equity markets have not ceased to decline due to uncertainty regarding the number of rate hikes that will be needed to bring inflation under control. 

As the crypto bear market deepens, analysts . . . → Read More: Price analysis 5/25: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Andreessen Horowitz closes $4.5 billion crypto fund amid market turmoil

Even though crypto markets appear to be on a long, arduous path ahead based on recent weeks of token turmoil, venture investors looking to get their hands on a Web3 future aren’t slowing down.

On Wednesday, venture capital giant, A16Z, announced closing its fourth cryptocurrency fund at $4.5 billion. This brings the total . . . → Read More: Andreessen Horowitz closes $4.5 billion crypto fund amid market turmoil

StarkWare nets $100M as investors bank on layer-2 success

Ethereum (ETH) layer-2 developer StarkWare has raised a further $100 million in its latest fundraising round despite the prevailing downturn in cryptocurrency markets.

StarkWare’s series D fundraising round sees the firm’s valuation up to $8 billion, marking a four-fold increase in value just six months after its Series C round in November 2021. . . . → Read More: StarkWare nets $100M as investors bank on layer-2 success

What is NFT staking and how to earn income from NFTs?

We all know about staking cryptocurrencies, whereby you make a return on your investment. Nowadays, you can also make money by staking your nonfungible tokens (NFTs)! By staking your nonfungible tokens (NFTs) on NFT staking platforms, you can make additional returns on your investment. NFTs have become even more attractive due to this development.

. . . → Read More: What is NFT staking and how to earn income from NFTs?

NFT owners reminded to be vigilant after 29 Moonbirds were stolen by clicking a bad link

A Proof Collective member has fallen victim to a scam, losing 29 highly-valuable Ethereum-based Moonbirds. According to a tweet by Cirrus on Wednesday morning, the victim lost 29 Moonbird nonfungible tokens (NFTs) worth $1.5 million after clicking a malicious link shared by a scammer.

29 Moonbirds were just stolen in a . . . → Read More: NFT owners reminded to be vigilant after 29 Moonbirds were stolen by clicking a bad link

OpenEthereum support ends with the Merge fast approaching

One of the most popular Ethereum clients, OpenEthereum, has ended support for its software in preparation for the upcoming Ethereum Merge.

OpenEthereum creates “clients” or software used to interact with the Ethereum network allowing anyone to create an Ethereum node to mine Ether (ETH), which is currently using a proof-of-work (PoW) consensus . . . → Read More: OpenEthereum support ends with the Merge fast approaching

Weak stocks and declining DeFi use continue to weigh on Ethereum price

Ether’s (ETH) 12-hour closing price has been respecting a tight $1,910 to $2,150 range for twelve days, but oddly enough, these 13% oscillations have been enough to liquidate an aggregate of $495 million in futures contracts since May 13, according to data from Coinglass.

Ether/USD 12-hour price at Kraken. Source: TradingView

The worsening market . . . → Read More: Weak stocks and declining DeFi use continue to weigh on Ethereum price

Crypto funds under management drop to a low not seen since July 2021

Digital asset investment products saw $141 million in outflows during the week ending on May 20, a move that reduced the total assets under management (AUM) by institutional funds down to $38 billion, the lowest level since July 2021. 

According to the latest edition of CoinShare’s weekly Digital Asset Fund Flows report, Bitcoin (BTC) . . . → Read More: Crypto funds under management drop to a low not seen since July 2021

Top 3 cryptocurrencies that are faring the best in the 2022 bear market

The crypto market has been in decline over the past six months with its valuation dropping from over $3 trillion in November 2021 to $1.23 trillion in May 2022.

Fears over persistently higher inflation, the Federal Reserve’s hawkish response to it, and the ongoing conflict between Ukraine and Russia prompted investors to limit their . . . → Read More: Top 3 cryptocurrencies that are faring the best in the 2022 bear market

Core Ethereum developer details changes to expect after the Merge

Core Ethereum developer Tim Beiko has outlined a series of suggestions and expectations about the upcoming Merge for application and protocol developers on Ethereum.

For the average users of apps and protocols, Beiko simply suggested testing things out to ensure nothing is broken as more tests are executed. He tweeted on Tuesday, “Run . . . → Read More: Core Ethereum developer details changes to expect after the Merge

fUSD stablecoin launch and rumors of Cronje’s return send Fantom (FTM) price higher

After a strong 2,000% rally in early 2021, Fantom (FTM) price collapsed alongside multiple altcoins and even though the blockchain has an impressive capability, it has yet to find mass adoption due to the lack of a compelling use case. FTM price hit an all-time high at $3.46, only to collapse to its pre-bull . . . → Read More: fUSD stablecoin launch and rumors of Cronje’s return send Fantom (FTM) price higher

Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

The United States equity markets are attempting a recovery after weeks of relentless selling. Along similar lines, on-chain monitoring resource Material Indicators expects the crypto market to recover, but they anticipate Bitcoin (BTC) to spend some time in a range before “a real breakout.”

The seven-day moving average of the on-chain transaction volume tracked . . . → Read More: Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Layer-2 adoption could spur the next crypto turning point

A mysterious Redditor has made a data-driven prediction that the next major phase of development in the blockchain space will be in layer-2 solutions, primarily on Ethereum.

The May 22 post explains that “We’re at a turning point” where the industry is moving away from bridging between L1 blockchains toward L2s which are . . . → Read More: Layer-2 adoption could spur the next crypto turning point

Top 5 cryptocurrencies to watch this week: BTC, BNB, XMR, ETC, MANA

The Dow Jones Industrial Average has declined for eight consecutive weeks, the first such losing streak since 1923. On May 20, the S&P 500 briefly fell into bear market territory, indicating that traders continue to sell risky assets in fear of a recession. 

Due to its tight correlation with US equities markets, Bitcoin (BTC) . . . → Read More: Top 5 cryptocurrencies to watch this week: BTC, BNB, XMR, ETC, MANA

The truth behind the misconceptions holding liquid staking back

Blockchains have relied on proof-of-work (PoW) validation since their inception. Yet the PoW consensus proved to be unsustainable with its high energy usage and its need for fast, powerful hardware creating high barriers to entry. That’s why blockchains are adopting proof-of-stake consensus algorithms (PoS), where those wanting to earn rewards don’t have to compete . . . → Read More: The truth behind the misconceptions holding liquid staking back

Why is Ethereum used for NFTs?

When choosing any blockchain for minting NFTs, such as Ethereum for NFT development, ensure the robustness of its smart contracts, check the blockchain’s fee structure, security measures and transaction speed, and assess the possibility of forking.

In the cryptocurrency market, NFTs are a significant niche. They provide further exposure to cryptocurrencies for . . . → Read More: Why is Ethereum used for NFTs?

Do Kwon faces legal trouble in South Korea, China remains Bitcoin mining powerhouse, and Ethereum 2.0 eyes ‘huge testing milestone’: Hodler’s Digest, May 15-21

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 Court documents reveal Do Kwon dissolved Terraform Labs Korea . . . → Read More: Do Kwon faces legal trouble in South Korea, China remains Bitcoin mining powerhouse, and Ethereum 2.0 eyes ‘huge testing milestone’: Hodler’s Digest, May 15-21

3 red flags that signal a crypto project may be misleading investors

Satoshi Nakamoto left a large pair of shoes to fill after releasing the code for Bitcoin (BTC) to the world, helping to establish the network, then vanishing without so much as a trace. 

Over the years, the crypto ecosystem has seen many developers and protocol creators rise in stature to become crypto messiahs . . . → Read More: 3 red flags that signal a crypto project may be misleading investors

Price analysis 5/20: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Bitcoin’s (BTC) tight correlation with the legacy markets continues to be a drag, especially as the United States equity markets remain in a firm bear trend. The Dow Jones Industrial Average is on track for its eighth consecutive negative week and the S&P 500 is close to plunging into the bear market territory.

Celsius . . . → Read More: Price analysis 5/20: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Bearish head and shoulders pattern forces Ethereum traders to re-adjust their price targets

Crypto markets remain volatile and a handful of seasoned traders believe that the bearish trend will continue as long as stock markets are chasing new lows.

Most investors would agree that crypto is now in a bear market and the current price action for Bitcoin (BTC) and Ethereum (ETH) suggests that capitulation and consolidation . . . → Read More: Bearish head and shoulders pattern forces Ethereum traders to re-adjust their price targets

Ethereum preparing a ‘bear trap’ ahead of the Merge — ETH price to $4K next?

Ethereum’s native token, Ether (ETH), continues to face downside risks in a higher interest rate environment. But one analyst believes that the token’s next selloff move could turn into a bear trap as the market factors in the possible release of the Merge this coming August.

ETH to $4K?

Ether’s price could reach $4,000 by . . . → Read More: Ethereum preparing a ‘bear trap’ ahead of the Merge — ETH price to $4K next?

Ethereum devs tip The Merge will occur in August ‘if everything goes to plan’

Ethereum’s long-awaited migration to a proof-of-stake (PoS) consensus mechanism, which has been pushed back time and time again, looks set to occur sometime in August — hopefully. 

Preston Van Loon, a core developer of the Ethereum network, told attendees at the Permissionless conference that the transition, known as The Merge, would occur sometime in . . . → Read More: Ethereum devs tip The Merge will occur in August ‘if everything goes to plan’

‘Huge testing milestone’ for Ethereum: Ropsten testnet Merge set for June 8

The Ethereum ecosystem is set for a “huge testing milestone,” with the Ropsten testnet Merge set to be conducted on June 8.

According to the Merge testnets page on GitHub, Ethereum DevOps engineer Parathi Jayanathi submitted a pull request for the Ropsten testnet Merge configuration code on Monday, suggesting the implementation is . . . → Read More: ‘Huge testing milestone’ for Ethereum: Ropsten testnet Merge set for June 8

Price analysis 5/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

On May 17, United States Federal Reserve Chairman Jerome Powell told the Wall Street Journal that the 50-basis-point rate hikes would continue until inflation is under control. Powell’s emphasis on a hawkish policy suggests that monetary conditions are likely to remain tight in 2022, which could limit the upside in risky assets.

On-chain market . . . → Read More: Price analysis 5/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Bitcoin price drops under $29K as Walmart, Target stock lose most since 1987

Bitcoin (BTC) headed toward an “interesting” liquidity area on May 18 as United States stock markets opened with a bearish bang.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price nears “interesting” rematch with lows

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it broke through the $29,000 support after the Wall Street . . . → Read More: Bitcoin price drops under $29K as Walmart, Target stock lose most since 1987

2 key Ethereum price metrics suggest traders will struggle to hold the $2K support level

Ether (ETH) price has been trying to establish an ascending channel since the May 12 market-wide crash that sent its price to $1,790. Currently, the altcoin’s support stands at $2,000, but the high correlation to traditional markets is causing traders to be highly skeptical s cryptocurrency market recovery. 

Ether/USD 4-hour price at Bitstamp. Source: . . . → Read More: 2 key Ethereum price metrics suggest traders will struggle to hold the $2K support level

Polygon partners with Orbs and DeFi.org to launch an accelerator program

In a new development for the decentralized finance space, Ethereum scaling platform Polygon has partnered with layer-3 project Orbs to launch a program that supports DeFi builders through the DeFi accelerator platform DeFi.org. 

In an announcement, Polygon and DeFi.org noted that the program will provide funding opportunities, mentorship and market exposure to chosen projects. . . . → Read More: Polygon partners with Orbs and DeFi.org to launch an accelerator program

Cloudflare to run Ethereum node experiment to help ‘build a better internet’

Ahead of Ethereum’s highly anticipated switch to proof-of-stake (PoS), cybersecurity firm Cloudflare is set to launch and fully stake Ethereum validator nodes over the next few months.

It aims to study energy efficiency, consistency management and network speed of the PoS network as part of its commitment to environmental sustainability and to . . . → Read More: Cloudflare to run Ethereum node experiment to help ‘build a better internet’

Ethereum’s popularity ‘a double-edged sword’ — a16z’s State of Crypto report

Crypto venture fund giant Andreessen Horowitz (a16z) has highlighted that development and demand on Ethereum are “unmatched” despite the network’s high transaction fees.

The firm does warn, however, that its “popularity is also a double-edged sword,” given that Ethereum prioritizes decentralization over scaling, resulting in competing blockchains stealing market share with “promises of better . . . → Read More: Ethereum’s popularity ‘a double-edged sword’ — a16z’s State of Crypto report

NFT prices take a gut punch as the crypto bear market deepens

Without fail, crypto has a way of humbling even the most self-assured and this market is definitely not for the faint of heart. Nonfungible token (NFT) investors have entered what appears to be a bear market and the recent chaos is also impacting community morale. 

The decline in NFT prices occurred as the United . . . → Read More: NFT prices take a gut punch as the crypto bear market deepens

MakerDAO price rebounds as DAI holds its peg and investors search for stablecoin security

Its been a rough couple of weeks for the cryptocurrency market. Bitcoin (BTC) price is nowhere near the price estimates of most analysts, multiple stablecoins lost their peg and the demise of one of the top decentralized finance (DeFi) platforms sparked an event that resulted in $900 billion vanishing from the total crypto market capitalization. 

. . . → Read More: MakerDAO price rebounds as DAI holds its peg and investors search for stablecoin security

Price analysis 5/16: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

The selling in Bitcoin (BTC) is showing no sign of abating and Bitcoin has fallen for seven straight weeks for the first time ever. This indicates that the momentum remains strongly in favor of the bears. 

While the short-term sentiment remains bearish, institutional traders seem to be taking a longer-term approach on cryptocurrencies. Goldman . . . → Read More: Price analysis 5/16: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS

Bitcoin (BTC) has been relatively calm during the weekend as crypto traders try to rebuild the markets after the Terra LUNA debacle. With macro factors not supportive, several analysts expect the recovery to be a slow grind.

Crypto research firm Delphi Digital said in a recent report that the rally in the United States . . . → Read More: Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS

The Brazilian Stock Exchange will launch Bitcoin and Ethereum futures

B3, the Brazilian Stock Exchange, confirmed that within six months it intends to launch its first official product aimed at the cryptocurrency market — Bitcoin (BTC) futures trading. The group’s chief financial officer, André Milanez, made the announcement during a conference call on Monday.

Milanez did not provide many details on how the . . . → Read More: The Brazilian Stock Exchange will launch Bitcoin and Ethereum futures

Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern

Ethereum’s native token Ether (ETH) looks ready to undergo a breakdown move in May as it forms a convincing “bear pennant” structure.

ETH price to $1,500?

ETH’s price has been consolidating since May 11 inside a range defined by two converging trendlines. Its sideways move coincides with a drop in trading volumes, underscoring the . . . → Read More: Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern

Will the Ethereum 2.0 update reduce high gas fees?

Purpose of Ethereum 2.0

The primary goal of the Ethereum 2.0 update is to improve scalability so that the network can handle more transactions without delays or high fees. 

While the full effects of the update will not be felt until it is fully rolled out, some of the possible use cases . . . → Read More: Will the Ethereum 2.0 update reduce high gas fees?

Polkadot vs. Ethereum: Two equal chances to dominate the Web3 world

For most casual digital asset investors, the Ethereum 2.0 upgrade promises to be a game-changing event that will improve efficiency, reduce network costs and propel the entire blockchain and crypto space closer to a Web3 reality.

Ethereum has been struggling with a lack of scalability and skyrocketing gas fees, and since it serves as . . . → Read More: Polkadot vs. Ethereum: Two equal chances to dominate the Web3 world