Search
Bitcoin Network Starts to Clear Congestion, Onchain Fees Drop by 90%
11.5.2023
On May 7, 2023, the Bitcoin network was plagued with an overwhelming 500,000 unconfirmed transactions, causing a major bottleneck in the system. However, the good news is that the congestion has been clearing, resulting in a significant reduction in onchain fees, which have now dropped below $5....
Bitcoin, Ethereum Technical Analysis: ETH, BTC Fall to Multi-Week Lows, Following US Inflation Data
11.5.2023
Ethereum fell below $1,800 in today’s session, as markets continued to react to the latest U.S. consumer price index. Inflation in the United States fell to 4.9% in April, less than the 5% sum many had expected. Bitcoin was also lower on the data, falling below $27,000. Bitcoin Bitcoin (BTC)...
Biggest Movers: DOT Drops to 6-Week Low on Tuesday
2.5.2023
Polkadot was one of Tuesday’s biggest movers, as the token dropped to a six-week low in today’s session. Prices fell for a long-term support point of $5.60, as the global crypto market cap was once again 1% lower today. Avalanche also hit a price floor on Tuesday. Polkadot (DOT) Polkadot...
Bitcoin, Ethereum Technical Analysis: BTC Moves Below $28,000 Ahead of FOMC Decision
2.5.2023
Bitcoin fell below the $28,000 level on Tuesday, as markets continued to prepare for tomorrow’s Federal Reserve interest rate decision. The Fed is expected to increase rates by 0.25%, despite the U.S. economy slowing down. Ethereum also remained lower, moving close to a breakout below...
First Republic Bank Faces Potential Takeover by FDIC Amidst Financial Struggles
29.4.2023
According to multiple reports, First Republic Bank is facing significant financial difficulties and could be taken over by the Federal Deposit Insurance Corporation (FDIC) if private sector banks do not intervene. The FDIC has reportedly approached several large commercial banks regarding...
Biggest Movers: MATIC Slides to 6-Week Low, as SOL Extends Declines
25.4.2023
Polygon fell to a six-week low on Tuesday, with sentiment in cryptocurrency markets remaining bearish. The price plunged as consumer confidence in the United States fell by more than expected, coming in at a reading of 101.3 in April. Solana also slipped, hitting a two-week low. Polygon (MATIC)...
Biggest Movers: DOGE, SHIB Drop to Multi-Week Lows, Following Crypto Red Wave
22.4.2023
Dogecoin dropped to a multi-week low on Saturday, as a red wave continues to wash away recent crypto bulls. The meme coin dropped below a key price floor at $0.080 following today’s plunge. Shiba inu was also lower to start the weekend, falling by as much as 3%. Dogecoin (DOGE) Dogecoin (DOGE)...
Report: Korean Central Bank to Gain Right to Probe Virtual Asset Entities After Financial Regulator Drops Opposition
22.4.2023
The South Korean central bank is set to be granted the right to investigate virtual assets after the Financial Services Commission (FSC) dropped its opposition to the move. According to a report, the FSC dropped its opposition to the central bank’s bid after it was accused of seeking to make...
Bitcoin, Ethereum Technical Analysis: BTC Moves Below $29,000, Hitting a 10-Day Low
20.4.2023
Bitcoin dropped for a second consecutive session on Thursday, as price moved towards a key point of support. Today’s sell-off has sent the cryptocurrency below $29,000, with the coin now trading at a ten-day low. Ethereum fell to a one-week low in today’s session. Bitcoin Bitcoin...
Bitcoin, Ethereum Technical Analysis: BTC Moves Below $30,000 on Monday, as US Dollar Rallies
17.4.2023
Bitcoin started the week trading below $30,000, as the U.S. dollar strengthened during Monday’s session. USD/JPY rose to a one-month high, with the greenback also gaining against the euro and British pound. Ethereum was also lower, falling below $2,100. Bitcoin Bitcoin (BTC) dropped below...
With Close to 10 Billion Stablecoins Redeemed, BUSD’s Supply Drops to Lowest Level Since April 2021
16.4.2023
Statistics recorded on April 15, 2023, show that the number of coins in circulation for the stablecoin BUSD dropped below the 7 billion range to 6.68 billion, marking the lowest number of BUSD in circulation since April 2021. Furthermore, data indicates that the supply of BUSD has shrunk by 19.8%...
Large Bitcoin Investor Sent $330M of BTC to Exchange Before Price Dropped Below $30K: Blockchain Data
12.4.2023
The bitcoin ‘whale’ was the 14th largest bitcoin holder until mid-March, controlling $1.2 billion in BTC, according to BitInfoCharts
US Consumer Price Index Rises 0.1% in March, Annual Inflation up 5% From Last Year
12.4.2023
On Wednesday, the U.S. Bureau of Labor Statistics published the Consumer Price Index (CPI) report, which noted that inflation rose 0.1% last month in March and 5% from a year ago. Annual inflation has dropped for nine consecutive months following the nine times the U.S. Federal Reserve raised...
Nigerian Forex Inflows: ‘Ambiguous Foreign Exchange Regime’ Blamed After Inflows Dropped to $5.32 Billion in 2022
12.4.2023
Between 2019 and 2022, the value of foreign capital that flowed into Nigeria dropped from $23.9 billion to $5.32 billion. The drop has been attributed to low investor confidence, the high cost of doing business, as well as the country’s high inflation rate. Nigeria will “struggle...
US Bank Lending Drops by Record $105 Billion in Two Weeks, Trillions Moving to Money Market Accounts, Elon Musk Warns ‘Trend Will Accelerate’
9.4.2023
The banking industry in the United States is still struggling after the collapse of three major banks. According to statistics, bank lending in the U.S. has dropped by close to $105 billion in the last two weeks of March, which is the largest decline on record. Additionally, Elon Musk, a Tesla...
Value Locked in Defi Holds the Line at $50B, After Temporarily Shedding $8B in Mid-March
2.4.2023
The total value locked (TVL) in decentralized finance (defi) during the first week of April is about $50 billion, roughly the same as on March 1. The value locked dropped to $42 billion on March 12 but has since rebounded as protocols such as Lido Finance, Aave, and Justlend recorded double-digit...
Biggest Movers: DOGE Hits 9-Day High, as LTC Climbs 6% on Saturday
1.4.2023
Dogecoin rose to its highest point in over a week, as Elon Musk requested that a lawsuit filed against him by investors in the meme coin be dropped. The suit claims that Musk operated a pyramid scheme, following his endorsements of dogecoin. Litecoin was another token to climb on Saturday. Dogecoin...
UK NFT Dropped Over Lack of Demand, Finance Minister Hunt Says
29.3.2023
The Royal Mint in 2022 had been tasked by the government with creating a project in what was then the red-hot space
Arbitrum Airdrop Goes Live: ARB Price Drops More Than 85%
23.3.2023
On Thursday, the Arbitrum airdrop claiming process went live and ARB markets dropped more than 85% lower than pre-IOU market prices recorded the day before. Arbitrum airdropped just over a billion ARB tokens, or 11.6% of the total supply. At noon ET, more than 474 million tokens had been claimed....
Bitcoin, Ethereum Technical Analysis: BTC Below $28,000, ETH Falls Under $1,800 Following Fed Rate Hike
23.3.2023
Bitcoin moved below $28,000 on Thursday, as markets reacted to the latest Federal Reserve interest rate hike. The Fed opted to increase rates by 25 basis points (bps) as many had anticipated, and signal one more hike this year. Ethereum was also lower on the news, falling below $1,800. Bitcoin...