In a recent analysis titled “Limited Downside,” market experts at JPMorgan highlighted potentially positive developments in the cryptocurrency market following the recent correction phase. A prominent banking institution drawing insights from its comprehensive study of the CME Bitcoin futures contract suggests that the liquidation phase of long positions may have reached a conclusion. These observations lead them to be optimistic about the near-term cryptocurrency landscape and foresee only minor downside risks. Traders initially built these long positions in response to favorable developments in the cryptocurrency space. This included important factors such as the XRP legal ruling, positive expectations regarding the…
Author: Crypto Flexs
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In a twist of fate on Tuesday, Bitcoin (BTC) surged past $44,000 on popular platforms like Bybit, giving traders a roller coaster ride and, in some cases, leaving their wallets a little lighter. The surge, not seen since April 2022, has left traders on edge as the cryptocurrency giant continues its winning streak. And winning means being completely out of the competition. You can buy/sell/trade $BTC on Bybit or OKX. King Bitcoin at $44,000 While the market was waiting for $42,000, $BTC showed strength by surging above that level. Sure, it’s taken a step back to around $43,500, but it’s…
ARAX Holdings Corp., a renowned company in the field of digital asset management, announced on December 5 that it has acquired a portion of The Nemesis, an innovative open world metaverse platform.Ockert Loubser, COO of ARAX, said:“This acquisition is not just an investment. “This is our commitment to shaping the future of how we interact in the digital world.”ARAX said it had acquired a 20% stake in The Nemesis, adding that it also has an option to acquire an additional 11% stake in the company.As part of the deal, The Nemesis will deploy Core Blockchain, a platform from ARAX’s recently…
Ethereum price hit an 18-month high at press time. The recent price rise has made ETH price more volatile. Ethereum (ETH) price rose to its highest level in 18 months, sharing a statistically significant correlation with leading coin Bitcoin (BTC), which rose above $40,000. On December 4, BTC briefly traded above $42,000 for the first time since April 2022. These positive sentiments undoubtedly spread to the ETH market as the altcoin traded at $2,250 on the same day, a price level last recorded in May 2022. New highs, new problems In addition to the price rise, ETH’s open interest has…
We are excited to announce that Kraken now supports deposits and withdrawals. USD Coin (USDC) on optimism! funding USDC funding through Optimism is already underway. You can transfer USD Coin (USDC) to your Kraken account by going to: funding Select USDC. From here, use the drop-down box to select your preferred deposit method (network). optimism. Note: Kraken currently supports two versions of USDC: USDC.e and Optimism’s native USDC. Is USDC for Optimism? ⤵️ Here’s what you need to know about assets: USD Coin (USDC) It is a USD-based stablecoin backed by the US dollar. Transactions are faster and more cost-effective…
On-chain data shows dormant Bitcoin whales are recently becoming active again in a manner reminiscent of the 2021 bull market. Bitcoin whale, which has been sleeping for 10 years, is waking up In a new CryptoQuant Quicktake post, analyst Maartunn talked about the formation of a pattern in Bitcoin similar to what occurred during the last bull market of 2021. advertising The metric of interest here is the amount of Bitcoin moved from a blockchain that has been dormant for at least 10 years before the transaction occurred. 10 years is obviously a very long time, which is why…
The overall market capitalization of the cryptocurrency market surged past $1.55 trillion on December 5, driven by incredible weekly gains of 14.5% for Bitcoin (BTC) and 11% for Ethereum (ETH). Notably, this milestone, which marked its highest level in 19 months, pushed Bitcoin past Meta’s market capitalization of $814 billion to become the world’s ninth-largest tradable asset.Despite recent strong momentum, analysts have observed that retail demand remains relatively stagnant. Some attribute this to the ramifications of an inflationary environment and lower interest rates on credit as interest rates remain above 5.25%. Analyst Rajat Soni’s post may have dramatized the situation,…
Dear Ethereum Community, Builders, and Researchers, For the first time Devconnect held in Amsterdam last year In 2022, we gathered for a week of in-depth workshops and discussions. Many who participated in the sessions and conversations said they felt Devconnect had made a significant impact on the ecosystem by fostering progress in a tangible way. Many people have expressed their hopes for Devconnect to happen again, and after seeing its impact, we strongly agree. Today I can finally share it. Devconnect is back and will be held in Istanbul this year from November 13-19! 🇹🇷 What is DevConnect? Devconnect is…
helium HNT +6.25% Self-proclaimed ‘world’s first’ mobile Cryptocarrier said Tuesday it has launched a U.S.-wide plan that offers unlimited data, text and calls for $20 per month. Helium Mobile’s service is a service that combines the P2P Helium Network, an Internet of Things project using the Solana blockchain, and a nationwide 5G network. The launch follows limited testing in Miami earlier this year. “Helium Mobile Hotspot allows subscribers to own and set up a ‘mini cell tower,’” the company said in a statement. “If anyone could become a builder and set up hotspots to expand the network for themselves and…
Visibly showing continued growth, the digital asset market has recorded cumulative inflows of $1.76 billion over the past 10 weeks, according to the latest report from CoinShares. These sustained inflows, led by Ethereum, mark the longest streak of growth since the launch of futures-based ETFs in the United States in October 2021. A positive trend emerges as Ethereum attracts $134 million in inflows. Despite a 107% increase in total assets under management (AuM) this year, reaching $46.2 billion, the cryptocurrency market is still lagging its 2021 high of $86.6 billion. The latest CoinShares report highlights that trading volume for…