Category: Analysis

Big gains for Stellar (XLM) as multiple banking settlement rumors proliferate

The price of Stellar XLM soared to as high as $0.39 on January 6. Having made a 31 month high, Stellar moved keenly back into the top ten, usurping Chainlink to take 9th place via market cap. Throughout this week, there has been no shortage of positive news concerning Stellar. For example, the Ukrainian central…

January 7, 2021
Crypto VC says Bitcoin must consolidate if it is to hit $100,000 in the near future

Bitcoin, Ethereum, and other cryptocurrencies have undergone remarkably strong rallies over recent days and weeks. In the past seven days alone, BTC gained 30 percent against the U.S. dollar while ETH gained 60.6 percent. Bitcoin is expected to continue its ascent as long as the U.S. dollar continues to drop and as institutional capital cycles…

January 7, 2021
New DeFi entrant? ShapeShift pivots to DEX, integrating Ethereum and ERC20 tokens

ShapeShift, one of the oldest cryptocurrency trading platforms in the crypto market, is pivoting. It announced the integration of a decentralized exchange, adding Ethereum and ERC20 tokens first. Since it is a decentralized exchange, it will not be able to immediately process Bitcoin trades. Hence, ShapeShift said it would integrate Bitcoin in the first quarter…

January 6, 2021
Here’s why the Bitcoin price suddenly rose above $35k overnight

The Bitcoin price surged above $35,000 overnight, recording a 10% increase within 12 hours. The major catalyst behind it has likely been the aggressive accumulation of BTC from buyers on Coinbase. Throughout the past week, whenever the Bitcoin price was trading higher on Coinbase, a major rally followed. I mean, why not? 35k wall, pfff.#Bitcoin…

January 5, 2021
Ethereum 2.0 staking service launches token with $1.4b fully diluted valuation

Long-time cryptocurrency investor and crypto Twitter personality “Crypto Cobain”, a.k.a. “Cobie,” and also known as Jordan Fish, began to drop hints of his latest project late in 2020. Lido is ______ — KING CO฿IE ? (@CryptoCobain) October 9, 2020 He created a Twitter account, Telegram channel, and website, branded with the word “Lido” and a…

January 5, 2021
Twitter CEO Jack Dorsey extends Bitcoin emoji until the year 3000

Jack Dorsey, the CEO of Twitter, officially confirmed on Twitter that the platform has extended the Bitcoin emoji until the year 3000, which is 979 years from now. We have a while https://t.co/SFYVeCDfs7 — jack (@jack) January 4, 2021 Jane Manchun Wong, an analyst, said: “There’s a hashflag for #Bitcoin and #BTC that lasts until…

January 5, 2021
On-chain analysts explain why Bitcoin suddenly dropped 16% in 6 hours

The price of Bitcoin declined by 16% in six hours after an explosive rally to above $34,000. The correction occurred as the derivatives market became extremely overheated. The Bitcoin futures market can become overcrowded if the market is dominated by either short-sellers or buyers. If either one overwhelms the market, then the probability of a…

January 4, 2021
Bitcoin price jumps above Dow Jones Index (DJI) while Ethereum nears $1,100

Two of the world’s largest cryptocurrencies by market cap set new records over the weekend. The day Bitcoin ran After Bitcoin, the world’s first and current largest cryptocurrency by market cap, crossed the $34,000 level on Saturday, it set both a record all-time high and crossed a major US index — the Dow Jones Industrial…

January 4, 2021
Ethereum (finally) takes the lead with a 25% rally as Bitcoin stalls at $33,000

While Ethereum appreciated over December, the leading altcoin has largely underperformed Bitcoin. On days when BTC rallied 5-8 percent in a single day in December, Ethereum was sometimes flat, consolidating around key support levels as capital was focused on Bitcoin. Many attribute this to the institutional support for the crypto market, which aggregates in Bitcoin…

January 3, 2021
Crypto market cap reaches ATH of $883 billion—is an alt season coming?

The market capitalization of all crypto assets in the global market combined have reached an all-time high above $883 billion. The bull run has been primarily fueled by the strong momentum of Bitcoin and Ethereum. While many alternative cryptocurrencies lagged behind BTC, Ethereum has been one of the few trailing BTC’s uptrend. Following the rally,…

January 3, 2021