Category: Analysis
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Circulating supply data signals XRP may be undervalued; analysts remain skeptical
It’s no secret that XRP has been one of the worst-performing cryptocurrencies throughout both 2019 and even 2020, incurring a significant 40 percent loss against USD last year while failing to catch the full momentum seen by its peers in the early part of 2020. This price action has been driven by a plethora of…
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Ahead of halving, volatility metric shows Bitcoin is near recent “sell-off” levels
Bitcoin’s recent price rise is attributed to the much-awaited halving event on May 12, but one metric suggests a sell-off is due if past samples are considered. Metric close to previous levels but not “holy grail” On-chain analytics provider Skew noted Bitcoin’s implied volatility indicator neared previous “sell-off” zones — specific instances where certain levels…
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Analyst: Downside may be imminent for Chainlink and Tezos, April’s top crypto trades
Prior to late last week’s rally to $7,800, Bitcoin was stuck in a consolidation pattern for weeks on end, trading in a 10 percent range for what was literally weeks. During that time, two altcoins managed to break the mold, rallying as the rest of the cryptocurrency market stagnated: Tezos (XTZ) and Chainlink (LINK), the…
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Tether just printed another $240m as demand for Bitcoin flourishes
Demand for Bitcoin has been skyrocketing in recent times, with this newfound excitement from investors coming mere weeks before the benchmark cryptocurrency undergoes its highly anticipated mining rewards halving event. The short-term implications of the halving on Bitcoin’s price are debatable, but it is an undoubtedly bullish event from a long-term perspective as it reduces…
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Data shows crypto market is positioning for downside; here’s why that’s super bullish
The crypto market has been caught in the throes of a firm uptrend in the time following the capitulatory downtrend seen in mid-March that erased virtually all the gains incurred throughout the early part of the year. The rebound from these lows, however, has allowed most major cryptos to recapture some of the gains from…
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Stellar Lumens aims for higher highs as social engagement metrics explode
Stellar Lumens has managed to decouple from the rest of the cryptocurrency market over the past few hours. The bullish momentum pushed the price of this cryptocurrency up over 15 percent. XLM rose from trading at a low of $0.062 to recently hit a high of $0.071. Meanwhile, Bitcoin has remained stagnant mostly trading within…
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This multibillion dollar crypto fund purchased over $140 million worth of Ethereum in 2020
Grayscale Investments, the investment arm of Digital Currency Group, has picked up a majority of all ether mined in 2020. The metric indicates massive institutional interest in Ethereum, which is soon moving to a Proof-of-Stake protocol. Picking up the ETH pennies Grayscale’s “Ethereum Trust” fund handles over $284 million in an index fund offered to…
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Analyst: this statistical model says there’s a 75% chance Bitcoin rallies even higher next week
Yes, the price of Bitcoin may have stalled over the past three days, stagnating around $7,500, but the cryptocurrency is still decisively bullish from a macro perspective, analysts say. In fact, should BTC close the weekly candle above $7,100 in approximately seven hours as of this article’s writing, this will be the sixth — yes,…
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Top-40 altcoin Digibyte rumored to be close to a 51 percent attack
Digibyte, a cybersecurity and authentication-focussed cryptocurrency, is seemingly close to the infamous 51 percent attack. If executed, the altcoin would follow Bitcoin Gold as the second major blockchain attacked by majority mining in 2020. Metrics raising questions A post on r/cryptocurrency, the popular subreddit devoted to digital assets, on April 27 first brought attention to…