Category: Price Watch

Despite price stagnation under $400, Ethereum fundamentals are still strong

After a 60 percent rally in the span of two weeks, the price of Ethereum is cooling off. Other cryptocurrencies are following suit, printing red price candles as the stock and precious metal markets also take a breather. According to CryptoSlate data, the price of the cryptocurrency trades at $375 as of this article’s writing.…

August 7, 2020
Bloomberg gives four reasons why demand for Bitcoin is set to shoot higher

To the credit of Mike McGlone, a senior commodity analyst at Bloomberg Intelligence, he called a Bitcoin breakout towards $13,000 when few expected it. In a report released Aug. 5, the analyst doubled down on the bullish sentiment he has been touting all year. The nine-page report, entitled “Bloomberg Crypto Outlook: Bitcoin Becoming Prudent,” outlined…

August 6, 2020
Band Protocol secures major oracle integration and Coinbase Pro listing

Band Protocol (BAND) has been seeing tremendous growth throughout the past few months, which has been reflected in its soaring price. The latest integration secured by the protocol is with blockchain platform Elrond, which will now be using Band oracles to provide data streams and scalability to the ecosystem. The goal of their partnership is…

August 5, 2020
Bitcoin CME futures are trading at a $300+ premium; Here’s what this means

Bitcoin’s recent strength has created a sense of “FOMO” amongst investors. This trend is elucidated while looking towards the growing premium between spot Bitcoin and BTC futures on the CME. Demand for BTC from investors using this platform – which is tailored towards institutions, professional traders, and wealthy retail traders – has driven the futures…

August 5, 2020
Litecoin’s new MimbleWimble update confirms September testnet launch

The first testnet for the MimbleWimble implementation on Litecoin remains on track for a September launch, lead developer David Burkett said in a July update yesterday. Among the various aspects of the impending launch was focussing on the Initial Block Download in the last month, said Burkett. The protocol is a syncing process between different…

August 4, 2020
Ethereum’s uptrend may be overheating as investor profitability reaches historic highs

Ethereum’s intense uptrend seen throughout the past few weeks has had far-reaching implications, even creating a tailwind that some believe sparked Bitcoin’s move from $10,000 to highs of $12,000. Despite facing some immense turbulence this past weekend when ETH posted a rejection at $415, the cryptocurrency has since recovered the vast majority of its losses.…

August 4, 2020
The amount of Ethereum locked in DeFi is up almost 30% in a month

As the price of Ethereum rises, the incentive its holders have to sell it increases. Yet data is showing that many holders of the cryptocurrency are opting to use the coin in decentralized finance (DeFi), not sell it. This trend may be pivotal for ETH’s bull case moving forward, say a number of analysts who…

August 3, 2020
Data shows public interest in Bitcoin is low: Here’s what may be driving BTC higher

The crypto community has been buzzing throughout the past couple of weeks as Bitcoin and the aggregated market show signs of life. Following a multi-month bout of sideways trading within the lower-$9,000 region, BTC bulls finally awoke and drove the crypto past $10,000. From here, it rapidly soared to highs of $12,000 before its ascent…

August 3, 2020
MCO jumps 36% as Crypto.com’s swap program goes live

Crypto.com unveiled its MCO swap program on August 3, allowing existing holders to shift their tokens to CRO as the protocol shifts to a unified, singular token system for its mainnet. The swap is only available on the Crypto.com App, with a 20% bonus for swaps completed by 2 Sep 2020. Each 1 MCO will…

August 3, 2020
Cardano (ADA) price forms strong base at $0.13, but transaction volume concerns investors

Cardano (ADA) – like all other digital assets – saw a notable decline yesterday that came about in tandem with Bitcoin’s plunge from highs of $12,000 to lows of under $11,000. ADA has been able to find strong support at $0.13, however, and bulls have defended this level on multiple occasions throughout the past day.…

August 2, 2020