Category: Analysis

After predicting a $2,000 drop, a top on-chain analyst is now bullish on Bitcoin

Bitcoin’s recent correction that brought it from the $12,000 highs to $9,800 didn’t catch all analysts off guard. In late August, approximately 10 days before everything began trending lower, on-chain and technical analyst Willy Woo said that the “next move is [likely to be] bearish,” referencing the high-$9,000s as a likely landing point for BTC.…

September 15, 2020
Top Binance traders flip long on Ethereum as market structure grows strong

Ethereum has shaken off the intense weakness it expressed throughout the day yesterday, with the cryptocurrency’s bulls now flexing immense signs of strength as its price pushes up towards the key resistance at $380. Where the cryptocurrency trends in the near-term may depend largely on how it continues reacting to this crucial level. If buyers…

September 14, 2020
A majority of investors think Ethereum will end 2020 above $500: VC poll

Ethereum has slipped lower over the past 10 days as legacy markets have also dropped from their highs. Even after a 15% bounce to $360, the leading cryptocurrency is currently over 25 percent from the year-to-date highs of $490. Chart of ETH’s price action over the past 10 days. Source: ETH/USD chart from TradingView.com Some…

September 14, 2020
Continued stock market turbulence puts Bitcoin’s stability in jeopardy

The stock market has seen some slight weakness today, despite opening to a strong start. After trading in the green for a few hours, the S&P 500, Nasdaq, and other benchmark indices all turned red. This has created a sense of fear among Bitcoin investors. Although Bitcoin has undoubtedly broken its correlation to the stock…

September 11, 2020
Ethereum-based DeFi tokens average a 50% loss in September; Here are the winners and losers

The Ethereum-based DeFi sector took a major hit throughout the past couple of weeks, with Bitcoin and Ethereum’s recent price decline creating shockwaves that have had grave impacts on smaller altcoins. There are a few tokens that fall under this category that have been able to avoid the immense selling pressure brought about by the…

September 11, 2020
Nexus Mutual surpasses 1% of total DeFi TVL as insurance market heats up

Nexus Mutual, the insurance coverage provider for decentralized finance (DeFi) protocols, surpassed $74 million in active coverage. It now covers for 206,763 ETH, which is around 1% of the total DeFi market. Nexus Mutual active insurance coverage. | Source: Nexustracker.io Richard Chen, a partner at 1Confirmation, wrote: “Nexus Mutual just crossed 1% of TVL in…

September 10, 2020
Google dev explains how XRP, Cardano, and other altcoins have multi-billion-dollar valuations

While decentralized finance is seemingly the most exciting aspect of the crypto market, projects in the space still have relatively small valuations compared to top blockchains. According to CryptoSlate market data, leading DeFi protocol Yearn.finance (YFI) has a market capitalization at $960 million while blockchains like EOS, Cardano, Tron, Bitcoin SV, and more have market…

September 10, 2020
Ethereum rally sparks renewed hopes for a continuation of the DeFi bull run

Ethereum has seen some incredibly strong price action throughout the past 24-hours, which has allowed it to erase a good bulk of its recent losses. This upswing has led the second-largest cryptocurrency from lows of $320 to highs of $380. Its momentum stalled once it hit these highs, and its price has been consolidating ever…

September 10, 2020
Here’s why analysts say SUSHI tokens are worth only $0.31

Sushi, the governance-cum-liquidity pool tokens for SushiSwap, have seen an unexpected boom in their nascent lifespan in terms of both prices and controversies. Not only did the token’s founder, the anonymous Twitter account “Chef Nomi,” sell over $10 million in return for their “week’s worth” of work before handing over admin keys to FTX founder…

September 9, 2020
Yearn.finance (YFI) surges 30% in 1 day: what’s fueling the rapid rally?

The price of YFI, the native token of the decentralized finance (DeFi) giant Yearn.finance, surged 30% in 1 day. YFI rose from $21,500 to as high as $28,151 on Binance within 12 hours, demonstrating strong momentum. The 4-hour chart of YFI, the native token of Yearn.finance. | Source: TradingView.com Three key factors have buoyed the…

September 9, 2020