Yearn Finance’s governance token YFI fell sharply on Wednesday as traders took short-term profits from its supersonic rise. The YFI/USD rate fell 4.34% to $22,915 after hitting a 47-day high near $25,000. The pullback also came as part of a downward correction that usually follows any bullish move in an uptrend. YFI later found support near $20,000, reflecting traders’ inclination to continue the bull run. Annual financial upgrade Buying demand for YFI has become stronger after parent protocol Yearn Finance implemented new improvement proposals. As previously covered by NewsBTC, the YIP-54 upgrade introduces a so-called “operating fund” to “purchase back…
Author: Crypto Flexs
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Bitcoin (BTC) returned to $38,000 on December 1 after the monthly close in November marked its highest since April 2022.BTC/USD 1-hour chart. Source: TradingViewBitcoin weakness failed to trigger a monthly sell-off.Data from Cointelegraph Markets Pro and TradingView tracked an impressive overnight BTC price performance that held significant support.The closing price was just over $37,700, with bid liquidity remaining within the intraday range and avoiding last-minute selling. order data In trading resources material indicators.BTC/USDT order book data. Source: Material Indicators/X“The closing price for the month looks pretty good, above $35,000.” Popular Trader Skew reacted On X (formerly Twitter)“There could be a…
Polkadot (DOT) is trending upwards above the $5.25 resistance level against the US dollar. The price may surge further to the $5.85 and $6.00 levels. DOT is gaining speed above the $5.25 resistance zone against the US dollar. The price is trading in the $5.30 area and above the 100 simple moving average (4-hours). There is a major bearish trendline forming with resistance near $5.55 on the 4-hours chart of the DOT/USD pair (data source from Kraken). The pair could gain bullish momentum if the closing price is above $5.55 and $5.60. Polkadot price gains strength again. After consolidating above…
The recent recovery in decentralized finance and non-fungible tokens is positive, but not yet strong or conclusive, according to JPMorgan.“We do not doubt that the recent resurgence in DeFi/NFT activity is a positive sign, but we believe it is too early to get excited about it,” JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a report Thursday. “These are only tentative signs of revival,” they said.After nearly two years of slowdown, NFT sales and total DeFi value have increased in recent months. According to analysts, the recovery has created “some optimism that the worst may be behind us in terms…
One closely watched cryptocurrency trader believes one decentralized finance altcoin is setting the stage for a massive rally. Pseudonymous cryptocurrency analyst Inmortal says 202,300 followers on social media platform “I completely respect the squiggle. Breakout and retest are complete. “I’m uploading on impulse.” Source: Immortal/X Looking at the chart, the trader suggests that Radix will retest the $0.0500 level and then surge to $0.0850. Radix is trading at $0.0562 at the time of this writing, up 10.8% in the last 24 hours. Next is the merchant. predict Solana (SOL) could claw back $64 after retesting the $50 level that served…
There are thousands of UTXOs created in 2016 for experimental purposes. These are generated programmatically using P2PKH transactions, each producing hundreds of 10K level sat outputs. Since these are now worth thousands of dollars, I’d like to consolidate these outputs (and retrieve them by some wallet for convenience). However, considering the current fee market (over 50sat/vB on average), each trade I attempt is very hefty, requiring me to pay fees equivalent to over 60% of the total value. (Otherwise it will be stuck in the mempool forever.) As far as I know, the inputs all contain P2PKH scripts, so there…
ProBit Global Celebrates 5 Years of Cryptocurrency Excellence – Chainwire housenewsroomProBit Global Celebrates 5 Years of Cryptocurrency Excellence We use cookies to make Chainwire’s website a better experience. Cookies help us give you a more personalized experience, relevant advertising and provide us with web analytics. Technical storage or access is strictly necessary for the legitimate purpose of enabling the use of specific services explicitly requested by the subscriber or user, or for the sole purpose of transmitting communications over electronic communications networks. Technical storage or access is necessary for the legitimate purpose of storing preferences that have not…
Buckle up. Bitcoin is in for another rough ride, as it has hit $35,000 on several exchanges! In a world where stock market charts seem more confusing than a Rubik’s Cube, Bitcoin is here to add some fun to your investing journey. big bounce Up to $35,000 in Bitcoin After a brief break from the limelight, Bitcoin is back. It soared past $35,000, something it hasn’t done since May 2022. If you’re trading and craving leverage, you just printed it. It recorded an incredible increase of 20% in just 5 days. If Bitcoin were a roller coaster, you would be…
The following is an interview with Markus Schorn, Co-Head of Deutsche Telekom’s Web3 Program, and Jens Herrmann, Senior Manager, Corporate Strategy. Interview with Tom Lyons Deutsche Telekom has been active in the blockchain space for quite some time, which might surprise some. Can you tell us when you started and why? Marcus: We have been involved in defining Web3 since 2018, starting with the Berlin team. Perhaps influenced by Berlin’s active Ethereum community. We experimented with deploying self-managed e-scooters on blockchain in 2018. It was too early for such consolidation, and interest waned during the first and second “crypto winters.”…
Litecoin has seen one of the most impressive runs of any cryptocurrency over the past few weeks, and this run has only strengthened the altcoin’s position in the industry. After rising more than 30% in three weeks, the digital asset is now the 10th largest cryptocurrency in the industry. LTC’s market capitalization exceeded $7.1 billion. In just one month, the price of Litecoin’s native LTC token soared from a June low of $71, reaching as high as $115 before the rally ended. As a result, the market capitalization of digital assets has risen rapidly, beating out some of the heavy…