Key Takeaways The risk of Bitcoin falling to zero has disappeared, attracting value-focused buyers during the downturn. The market is maturing, and the intensity of price corrections is decreasing, indicating a growing investor base. Share this article Bitwise CIO Matt Hougan referenced a recent post by CoinDesk analyst James Van Straten, commenting on a major change in Bitcoin market behavior. This post captures a very important change. “Value” buyers now exist in Bitcoin. One reason Bitcoin declines have been so violent in the past is because whenever BTC started falling, people started worrying that Bitcoin would hit $0. That is…
Author: Crypto Flexs
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Ted Hisokawa November 27, 2024 12:45 As part of its strategy to enhance its trading options, Binance Futures has expanded its offerings with new USDⓈ margin perpetual contracts for MORPHOUSDT and CHILLGUYUSDT, offering up to 75x leverage. Binance Futures will expand its trading portfolio by launching USDⓈ margin perpetual contracts for MORPHOUSDT and CHILLGUYUSDT, offering traders up to 75x leverage. According to Binance, the move aims to broaden the range of trading options available to users and improve the trading experience. Contract details and specifications MORPHOUSDT and CHILLGUYUSDT contracts are designed with a maximum…
XLM has surged 372% this month, garnering significant attention across markets. A steep decline of 16% in the last 24 hours has dampened momentum. Key support and resistance levels could define the next big move for XLM. Stellar Lumens (XLM) captured the attention of the cryptocurrency world this month with a whopping 372% gain. Fueling this rally was major support from global companies such as MasterCard and Franklin Templeton. However, the rapid rise in value has met resistance, with XLM falling 24% since its high of $0.6342. The sudden correction sparked speculation among traders. Is XLM’s rally over, or is…
Ethereum (ETH) surged 15% from November 20 to November 27, surpassing the $3,500 level for the first time in four months. The rally coincided with record Ethereum futures open interest, raising questions among traders about whether the rise in leverage was indicative of excessive bullish sentiment.Ether futures aggregate open interest in ETH. Source: CoinglassTotal open interest in Ether futures increased 23% in the 30 days ending November 27, reaching $22 billion. For context, three months ago, on August 27th, Bitcoin (BTC) futures open interest reached $31.2 billion. Additionally, on May 13, when Ether was trading above $4,000, ETH futures open…
Ethereum has seen a notable rebound, rising more than 5% over the past 24 hours, while Bitcoin has risen a more modest 1.5% over the same period. This change in market dynamics is reflected in a 13% surge in the ETH/BTC trading pair, which rose from 0.0318 the previous day to 0.0371, representing a significant recovery from the post-election lows. “Ethereum is making a comeback after Bitcoin fell, and there are signs that the market is shifting towards ETH and alternatives, as evidenced by the 13% surge in the ETH/BTC pair,” said QCP Capital analysts.According to The Block’s price page,…
A cryptocurrency analyst said one Solana (SOL) rival is showing signs of strength in the market despite Bitcoin (BTC) falling below $90,000. Pseudonymous analyst Pentoshi told his 822,400 followers on social media platform “SEI is another one that not only looks great with high period conversions and clear voids, but has also held up very well like many alternatives to this BTC pullback. Here are the daily and weekly ones. Let’s compare it to a similar setup shared (November 23): As BTC calms down, Alt should continue to rise.” Source: Pentosh/X Source: Pentosh/X As of this writing, SEI is trading…
Wang Long Chai November 27, 2024 13:47 Tether announced its strategic decision to discontinue support for EUR₮, focusing on launching MiCAR-compatible stablecoins and strengthening community-driven support. Tether, the popular stablecoin USDT issuer, announced a strategic shift to strengthen community-driven product support. According to Tether, this move highlights Tether’s ongoing commitment to fostering a strong blockchain ecosystem as it continues to evaluate its stablecoin products to balance availability and community benefit. EUR₮ discontinued In a significant change, Tether has decided to discontinue support for the euro-based stablecoin EUR₮. This decision was taken after careful assessment…
Optimism suggests the possibility of a $3 rally soon, with bullish momentum breaking key resistance levels. Network adoption surged, with active addresses surging 16.7%, demonstrating strong demand for Optimism. Optimism (OP) It successfully broke the long-standing resistance zone of $1.80-$1.90, a resistance level that has been firmly maintained for more than 150 days. This breakout, driven by strong volume and bullish momentum, indicates growing interest in the asset. While OP is reaching $2.28 As of press time, a slight market correction is expected, with a possible decline providing an opportunity for accumulation. Breaks through $1.80~$1.90 resistance line The $1.80-$1.90 range…
Ripple said it would invest in the newly branded Bitwise Physical XRP ETP. This news sends the price of XRP soaring 7.2% to $1.43 at the time of writing, according to CoinGecko data. Today’s surge puts it 26.8% higher than this time last week.Bitwise Physical XRP ETP, previously called European XRP ETP, is part of the company’s broader family of cryptocurrency asset funds. The company also provides a position. Ethereum and Bitcoin ETFs in the US.Ripple CEO Brad Garlinghouse said the decision to invest in the Bitwise fund, which trades under the ticker GXRP, coincides with a surge in interest…
Wang Long Chai November 27, 2024 12:17 Animoca Brands has made a strategic investment in Igloo, Inc. aimed at strengthening its consumer cryptocurrency initiatives and growing its NFT-based intellectual property, Pudgy Penguins. Animoca Brands, a prominent player in blockchain and digital rights, announced a strategic investment in Igloo, Inc., the parent company of Pudgy Penguins, an NFT-based intellectual property. According to Animoca Brands, the investment will be executed through a Simple Agreement for Future Equity (SAFE). Consumer Cryptocurrency Strategic Movement This investment highlights Animoca Brands’ confidence in the transformative potential of consumer cryptocurrencies and…