US Inflation Data Eases Concerns; Crypto Economy Jumps 11% Higher While Market Analysts Anticipate Fed’s Next Decision

The U.S. Labor Department released the consumer price index (CPI) report on Tuesday. Although inflation increased in February year-over-year, the rise was expected, and the annual inflation rate for all items was 6%. The cooling inflation has eased some concerns, but fears of financial contagion have spread. Market strategists are further anticipating the U.S. central [...]

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Crypto Rallies Amidst Traditional Banking Crisis

Bitcoin and Ethereum experience a significant rally, while Cryptocurrency market cap rallies back above $1T amidst traditional banking crisis.

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Bull Trap Confirmed? Market Cap Plunges Sub $1 Trillion, Bitcoin Sinks Past $20K

The crypto market has seen a significant drop in total cap & Bitcoin prices following negative news and regulatory concerns.

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Cardano (ADA) Climbs to #7 by Market Cap Amidst “Cult” Criticism

Charles Hoskinson is defending his work in the industry following continued criticism.

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Crypto Technical Analysis vs Fundamental Analysis: Which One Is Better?

Which one is better: crypto technical analysis vs fundamental analysis of the cryptocurrency

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Crypto Market Cap: What Is Market Capitalization in Cryptocurrency?

Crypto market capitalization gives us a fact-based look at coins, which is useful for planning future investments

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Bear market will last until crypto apps are actually useful: Mark Cuban

The billionaire investor said a bigger focus on applications and utility outside of finance would bring more back to the crypto space and possibly reverse the declining market.

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Crypto Market Falls Again to $1.29T, As Bitcoin Bulls Revert Back

Crypto market dropped roughly by 6% in the last 24h. Bitcoin failed to hold its rally above $30,000 USD. The

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Shanghai Reopens, How Do Markets React?

The financial heart of China, has formally ended its harsh two-month-long Covid lockdown today.

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What Ethereum DeFi Tells Us About The Surprising Strength Of The Crypto Market

Ethereum DeFi isn’t en vogue of late, but that doesn’t mean it’s not an important part of crypto anymore. Especially if you consider what it says about the health of the overall cryptosphere. Covered: Ethereum, DeFi, And The Crypto Market Cap What TVL v. Crypto Market Cap Tells Us Ethereum, DeFi, And The Crypto Market […]

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Crypto Heading For 10 Trillion Dollar Market Cap, According To Analyst

Technical analyst TechDev says signs are pointing to crypto heading for 10 trillion dollar market cap.  Covered: 2017 Similarities Point To Crypto Heading For 10 Trillion Dollar Market Cap Differences Between Bull Runs What Does This Mean For Your Bag(s)? Crypto Heading For 10 Trillion Dollar Market Cap Earlier this week, we saw that, based […]

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Top 5 Metaverse Tokens Under $15 Million Marketcap

Metaverse is currently the hype and the alternate reality world. It is a shared augmented/virtual internet of realities that will keep us all joined and provide new experiences. This post is all about the top 5 metaverse tokens under the $15 Million market cap. Well, let’s take a look at the top 5 Metaverse tokens.

According to its website, PolkaCity is a completely autonomous NFT platform. This platform enables users to invest in virtual assets. This can be done in the form of a virtual city. Users can make profits by keeping virtual taxis, gas stations, and services. The current marketcap is $15 million. At the time of writing this, the POLC price is sitting at $1.82. 

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Crypto market cap hits an all-time high of $2.5 trillion

The cryptocurrency market has set a new record with an all-time high of $2.6 trillion according to data from CryptoSlate.

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Crypto Flipsider News – Grayscale and ProShares Bitcoin ETFs, Crypto Market Cap ATH, Bakkt on NYSE, Steam Bans Crypto Games, Musk back to SHIB

Read Monday's breaking news in the daily digest!

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Total Crypto Market Cap Reenters Monthly RSI Bull Zone

Bitcoin and its altcoin brethren are back bullish, both on individual price charts but also when looking at the total crypto market cap at large. The aggregate of all major and minor cryptocurrencies has fully reentered the bull zone on the monthly RSI, which could indicate that the bull market will blast back off any day now. Total Crypto Market RSI Returns To Bull Zone The study of technical analysis is subjective. The practice has nearly as many naysayers as crypto does, yet others swear by it. There is also much debate over what charts are worthy of such analysis. For example, charting Bitcoin dominance or the total cryptocurrency market cap might raise some eyebrows. Related Reading | Bitcoin Breakout Beyond $50K Brings Bull Market Fractal Back In View In the right hands, there is no data that isn’t valuable, and considering these charts can provide a small piece of the bigger picture regarding all market conditions. And currently, according to the RSI on monthly timeframes, crypto is as bullish as it gets. Monthly timeframes are most dominant and a high reading on the RSI often signals an asset – or in this case an asset class – is overbought. In digital currencies, however, when the RSI reaches such levels on the monthly timeframe it is when the asset is at its most bullish.   Is Bitcoin forming an ending diagonal? | Source: CRYPTOCAP-TOTAL on TradingView.com Technicals Suggest Another Several Months Of Bull Run Remaining Comparing the last major market cycle with the current, there is a key difference between this time and the last: a selloff took crypto out of the bull zone temporarily. But with it back, there might be no stopping Bitcoin, Ethereum, Litecoin, and the rest of the bunch. Ditching the RSI in place of the LMACD, the logarithmic scale version of the moving average convergence/divergence indicator, it is clear that momentum remains bullish and a bearish crossover was narrowly prevented. Is Bitcoin forming an ending diagonal? | Source: CRYPTOCAP-TOTAL on TradingView.com The total crypto market also has very little resistance above it, corresponding with the lagging span on the Ichimoku indicator. Unlike the 2017 cycle peak, the total crypto market has held above the base line and conversion line, which are currently crossed bullish. Related Reading | Proof-of-Work: Bitcoin Back Programs That Put Your Money To Work For You All technical signals combined suggest rapid price expansion as soon as the remaining resistance level on monthly timeframes is taken out. If the total market cap rally is to end after more than a cumulative 450 days of bull zone on the RSI, the bull run could have another few months left to go. #Crypto is back in the bull zone on the RSI. Looks like there could be a lot longer to go during this cycle. pic.twitter.com/D9UGG9gKYG — Tony "The Bull" Spilotro (@tonyspilotroBTC) August 25, 2021 Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

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UN Accuses North Korea Of $3B Crypto Theft To Fund Nuclear Weapons Program

In a recently reviewed unpublished report by Reuters, United Nations (UN) sanctions monitors have alleged that North Korea engaged in a massive theft of crypto assets, raking in $3 billion through cyberattacks.  Nuclear Upgrades And Crypto Cyberattacks Unveiled According to Reuters, the independent panel of sanctions monitors revealed that despite international sanctions, North Korea continued [...]

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Bitcoin Dominance Tipped To Hit 57% Altseason Incoming?

In the past week, Bitcoin recorded a net negative performance translating into a 5.73% decline in market prices. However, the premier cryptocurrency boosted its market dominance amid this turbulence as the altcoins suffered a larger collective loss. Interestingly, popular market analyst Egrag Crypto predicts Bitcoin Dominance could soon retrace indicating a potential short-term bust for the altcoin market. Related Reading: Bitcoin Still In Bull Market, On-Chain Indicator Confirms Bitcoin Dominance Forms Adam & Eve Pattern – Key Levels To Watch As Bitcoin prices moved with much volatility in the past week, the asset’s crypto market dominance rose to 61.0%; meanwhile, Ethereum and other altcoins saw their market shares shrink by 1.99% and 2.38% respectively. Commenting on this development, Egrag Crypto notes that Bitcoin Dominance has now completed an Adam and Eve Pattern highlighting certain significant levels for its future trajectory. Generally, the Adam and Eve Pattern is a bullish reversal chart pattern that consists of two distinct bottoms. The highest point between these troughs acts as a resistance which a price break above confirms a bullish trend. Recently, Bitcoin Dominance moved above this neckline resistance (59%). However, Egrag Crypto explains a stronger resistance lies at 62.30% capable of forcing a pullback to around 61.50%. However, if Bitcoin Dominance fails to hold at this critical support level, a more pronounced decline could be in store, potentially driving Dominance to around 57%. In line with basic market dynamics, Egrag Crypto’s projection proving true would translate to a rise in altcoin market shares indicating a potential boost in altcoins prices in the short term. Related Reading: Ethereum Is Consolidating After The Flush Last Weekend The Calm Before A Big Move? Is An Altseason Still Feasible? While Egrag Crypto’s prediction of a declining Bitcoin Dominance might mean some altcoins gain, the possibility of an altseason remains in the air. For context, the altseason marks a period in the bull run where altcoins outperform Bitcoin. This is indicated by a fall in Bitcoin dominance amidst a general surge in crypto asset prices. In a recent blog post, analytics firm IntoTheBlock highlights several factors: low level of network addresses, lack of real-world utility, and unfavorable macroeconomic conditions all of which are currently preventing the manifestation of an altseason. Notably, there is also an absence of compelling narratives such as NFTs or DeFi which served as bullish drivers in previous altcoin seasons. The analysts at IntoTheBlock postulate that until these issues are addressed, investors are likely to experience isolated price surges in e.g. memecoins rather than a widescale altseason. At press time, the crypto market remains valued at $3.13 trillion following a slight 0.07% increase in the past day. As earlier stated, Bitcoin maintains a 61.0% dominance, followed by Ethereum (10.1%) and other altcoins (28.9%). Featured image from Shutterstock, chart from Tradingview

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Criminals Behind $2M School Theft Admit Guilt: Crypto Mining Scheme Uncovered

In recent developments, two California school district officials have admitted guilty to stealing up to $1.8 million and misappropriating electricity to finance and operate a clandestine crypto-mining operation.  The United States Department of Justice (DOJ) disclosed that Jeffrey Menge, former Assistant Superintendent and Chief Business Officer of Patterson Joint Unified School District, and Eric Drabert, [...]

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US Banks Rally For Updated Crypto Guidelines As Digital Asset Prices Surge

Amidst a significant surge in cryptocurrency prices, which propelled the total crypto market capitalization to a high of $1.93 trillion on Thursday, influential interest groups are urging the US Securities and Exchange Commission (SEC) to revise accounting guidance that imposes higher costs on US banks for holding digital assets on behalf of their customers. Banking Trade Groups Urge SEC To Revise Crypto Accounting Rules According to a Bloomberg report, a coalition of trade groups, including the Bank Policy Institute, the American Bankers Association, the Securities Industry and Financial Markets Association, and the Financial Services Forum, sent a letter to the SEC on Wednesday outlining their desired changes.  The existing guidance requires public companies, including banks, to treat cryptocurrencies they hold in custody as liabilities on their corporate balance sheets. Consequently, banks must allocate assets of a similar value to comply with capital requirements and protect against potential losses. According to Bloomberg, the trade groups have requested the SEC to consider the following key changes: Exclude certain assets from being classified under the broad crypto umbrella. This includes traditional assets recorded or transferred using blockchain networks, such as tokenized deposits, as well as tokens underlying SEC-approved products like spot Bitcoin exchange-traded funds (ETFs). Grant regulated lenders an exemption from the current balance sheet requirement while maintaining the disclosure of crypto activities in financial statements. The trade groups argued that if regulated banking organizations are unable to provide digital asset-safeguarding services at scale, it would negatively impact investors, customers, and the broader financial system.  However, the SEC has defended its accounting guidance, citing the “unique risks” and uncertainties posed by cryptocurrencies compared to other assets held by banks.  Limiting Custody Expansion? The specific guidance in question, known as Staff Accounting Bulletin No. 121, has faced criticism from banks since its publication in 2022.  Lenders argue that the bulletin limits their ability to expand digital asset services for customers due to the associated high costs. Consequently, banks missed out on providing custody services for recently approved Bitcoin exchange-traded funds, with Coinbase emerging as the preferred custodian for the majority of ETF issuers. The trade groups also highlighted additional challenges resulting from the guidance, including a “chilling effect” on plans to utilize blockchain technology for traditional assets. While the SEC described SAB 121 as non-binding staff guidance, it acknowledged that following it enhances disclosure to investors regarding firms safeguarding crypto assets for others. Related Reading: These Are The Altcoins Drawing Whale Interest, Santiment Reveals As the SEC faces mounting pressure, there have been efforts by lawmakers to repeal the guidance.  A resolution was introduced in the House Financial Services Committee, spearheaded by Representatives Mike Flood and Wiley Nickel, while Senator Cynthia Lummis sponsored identical legislation in the Senate. These measures aim to remove the SEC’s authority in making rules that impact bank custody. The outcome remains uncertain, as the legislation’s success depends on garnering sufficient support, particularly among Democrats and within the White House.  However, the collective efforts of trade groups, lawmakers, and industry stakeholders could potentially lead to regulatory changes that alleviate the burden on banks holding digital assets, facilitating their participation in the evolving cryptocurrency landscape. Furthermore, the recent endeavors undertaken by US institutions exemplify a growing interest and eagerness to adopt and invest in cryptocurrencies, particularly Bitcoin.  This heightened institutional involvement has significantly contributed to the swift success of Bitcoin spot ETFs, which gained regulatory approval merely a month ago. Featured image from Shutterstock, chart from TradingView.com

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Cardano’s TVL Almost Triples in Q1; ADA Market Cap Rises 50%

The price of ADA has also grown significantly since the start of the year.

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