Category: Price Watch
-
Top Bitcoin analyst flips bullish after predicting the 20% retracement last week
Since peaking at local highs of $12,075 last week, Bitcoin has experienced a strong drawdown as depicted in the chart below. The leading cryptocurrency has fallen as low as $9,995 as of this article’s writing and has traded even lower than current levels as sellers have ravaged the BTC price. Chart of BTC’s price action…
-
Ethereum hits $473—and strategists are more bullish on ETH 2.0 than ever
The price of Ethereum (ETH) achieved $473 for the first time since June 2018, primarily buoyed by decentralized finance (DeFi). This time, the rally of Ethereum is driven by a noticeable spike in user activity, especially in the DeFi sector. The price of Ethereum (ETH) on a monthly candle. | Source: ETHUSD Chart on TradingView…
-
Yearn.finance (YFI) price rallies towards $20,000 following Aave listing
Yearn.finance (YFI) has been one of the most successful protocols within the DeFi sector in terms of sheer growth over the past few months. The protocol has garnered nearly $1 billion in total value locked (TVL), making it the fourth-largest decentralized finance protocol, just behind Curve Finance, Maker, and Aave. The growing usage of the…
-
Tellor (TRB) secures coveted Binance listing as oracle bull run continues
The DeFi sector’s massive growth in recent weeks has given rise to other fragments of the crypto market, with decentralized finance’s reliance on oracles driving investor demand to these types of projects. This has caused Chainlink, Band Protocol, and Tellor to all see notable growth in recent weeks. Tellor is by far the smallest of…
-
Aave (LEND) becomes first Ethereum DeFi token to hit $1 billion valuation
A year or two ago, most decentralized finance (DeFi) protocols and their respective tokens were unknown. Save for Maker (MKR), there were few crypto assets in the top 20 to 50 actually representing this revolution in finance. But due to innovation, better education, a search for yields, and more, DeFi is becoming mainstream in the…
-
Bitcoin’s network activity is flashing “caution flags” as active address count plunges
Bitcoin’s price is showing some signs of weakness as it hovers above its crucial support at $11,300. This level has been tapped and defended on multiple occasions throughout the past day, with each dip below this level being met with aggressive buying pressure. Despite the support that exists here, the cryptocurrency is still in a…
-
Analysis: Ethereum’s Yearn.finance (YFI) is one of the cheapest coins in DeFi
YFI, the native governance token of the DeFi protocol Yearn.finance, has rapidly become a prominent cryptocurrency despite just launching weeks ago. It made headlines for seemingly being the first cryptocurrency to appreciate 100,000 percent in a week. It also made headlines for becoming the first reputable altcoin to pass the price of Bitcoin. YFI now…
-
Expect volatility: Bitcoin futures open interest surges to new all-time high
Bitcoin has been seeing relatively quiet price action throughout the past few weeks, with the cryptocurrency primarily trading within the upper-$11,000 region as its bulls and bears reach an impasse. During this consolidation phase, futures traders have been opening up a significant quantity of positions, signaling that they anticipate the benchmark crypto to make a…
-
Ethereum’s on-chain data suggests the worst is to come after 10% correction
Even counting the recent bounce, Ethereum hasn’t performed well over the past week. After peaking at $440 last week, the price of the leading cryptocurrency has slipped around 10 percent lower. At the worst of the rally, the cryptocurrency tapped $380, but Ethereum now trades above $404 as buyers have stepped in across the crypto…
-
As Bitcoin drifts lower, these crucial factors suggest bulls are still in control
Bitcoin is showing some signs of weakness today as its price drifts down towards its crucial short-term support level at $11,600. This is the lower boundary of the trading range that it is currently caught within, with the upper boundary sitting at $12,000. This range has held strong for the past few weeks, with each…