Category: Analysis

These 4 factors show just how real Bitcoin’s current bull run truly is

Bitcoin appears to be in the early stages of its next bull run, with the cryptocurrency’s price rallying past $12,000 today and setting fresh yearly highs at $12,400. Although there’s no denying the overt strength that the benchmark cryptocurrency has seen in recent times, some investors are worried that this upswing may end in a…

August 17, 2020
On-chain network activity shows Litecoin (LTC) is preparing for a breakout

Activity on the Litecoin network is seeing a resurgence amidst a broader bull run in the crypto markets, on-chain data metrics show. The fundamental sentiment is similarly growing, especially as the date for a MimbleWimble implementation draws closer. Franklyn Richards, the founder of the Litecoin Foundation, said in a tweet that Litecoin’s network activity is…

August 17, 2020
New Research unveils how pump and dump schemes work in crypto industry

A new research paper from the University of Technology in Syndey found that pump and dump schemes are rife in the crypto markets, having recorded at least 355 market manipulations in the seven months. Up to 23 million people participated in the schemes. These pump and dump schemes, however, are almost nothing like the ones…

August 16, 2020
This data suggests Ethereum’s intense uptrend may stall as it reaches $450

Ethereum has been caught in a parabolic uptrend throughout the past several weeks, and its momentum isn’t showing any signs of slowing down. Throughout the past week, the cryptocurrency had been consolidating below $400 in tandem with Bitcoin’s bout of sideways trading below $12,000. Although the benchmark cryptocurrency remains below this key resistance level, Ethereum…

August 15, 2020
Data analyst: Ethereum transaction fees will put a “hard cap” on DeFi bull run

Ethereum’s decentralized finance (DeFi) community and market have seen exponential growth over recent months. According to CryptoSlate sector data, all DeFi coins in circulation are now worth $12.78 billion in aggregate; this sum was closer to $3-4 billion just two months ago. Acknowledging this upward trend, analysts have said that DeFi is at the start…

August 14, 2020
Data analyst: Bitcoin funding rates could spell trouble for near-term outlook

It has been a turbulent week for Bitcoin. This past weekend, the cryptocurrency’s buyers attempted to catalyze a movement up towards $12,000, eventually pushing it as high as $12,200. At this point, however, it faced an influx of selling pressure that caused its price to begin sliding down towards the lower-$11,000 region. Overnight, however, buyers…

August 13, 2020
Chainlink rallies to fresh highs of $16, but data reveals mounting selling pressure

Chainlink’s price has flashed signs of intense strength in recent weeks, with each pullback being aggressively bought by bulls. This pattern has allowed it to rally up to fresh all-time highs that were set early today, with the cryptocurrency now finding some stability as its price hovers just below these newly formed highs of $16.00.…

August 12, 2020
Here’s why Ethereum’s Ampleforth (AMPL) is shooting 35% higher today

After spiking parabolically into the end of July, the pseudo-stablecoin Ampleforth (AMPL) suffered a large correction. Since its Jul. 26 highs, the price of the cryptocurrency has dropped around 70 percent. And the market cap of AMPL, which is how the coin’s performance is supposed to be measured, has collapsed by more than 50 percent.…

August 12, 2020
Bitfinex traders are longing Tezos (XTZ) in record numbers as price flirts with $4

Ever factoring in the 12 percent correction Tezos has seen in the past day, the cryptocurrency is one of the top-performing in the past week. According to CryptoSlate data, Tezos, which has the ticker XTZ, is up 17.9 percent in the past seven days and up 27.68 percent in the past month. Investors are embracing…

August 12, 2020
Here’s what on-chain data is saying about Band Protocol’s 30% decline

Band Protocol (BAND) has been garnering significant attention over the past few weeks due to its intense rally that sent it from the lower-$4.00 region in early-August to highs of nearly $18.00 that were set earlier this week. The cryptocurrency is now facing an influx of selling pressure as its highly profitable investors begin taking…

August 11, 2020