QCP Capital analysts warned that the recent rise in perpetual futures funding rates means cryptocurrency markets could be vulnerable to unexpected downside moves as traders leverage positions in speculative bullish trends.“Over the past two weeks, the perpetual futures funding rate on Deribit and Binance has increased. This is a sign that bearish bets are decreasing or buying pressure is increasing. This combined with the bubble in memecoins makes us wary of a move to the downside. . This happens often when markets are strong, and you may not expect it at all,” said a QCP Capital analyst. Bitcoin BTC -2.32%…
Author: Crypto Flexs
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Kraken adds Cat in a Dog’s World to its Spot offering. The cat cryptocurrency surpassed the dog-themed coin in seven days. MEW wins on one important metric despite the harsh revisions. In the dog-dominated world of meme coins, cats were rare until this month. Blue-chip dog meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) have dominated the meme kingdom since the cryptocurrency boom of 2021, but things have completely changed this month.Is your cat taking over this cycle?A newly created cat-themed memecoin outpaced the dog cryptocurrency this week. The cat meme currency has recorded a cumulative 17% gain in…
Peter Jang October 8, 2024 17:06 TSMC is collaborating with NVIDIA to implement the cuLitho platform and leverage AI and accelerated computing to dramatically accelerate the speed of semiconductor manufacturing. TSMC, a leader in semiconductor manufacturing, announced it is entering production using NVIDIA’s cuLitho computational lithography platform. According to the NVIDIA blog, this strategic collaboration aims to accelerate the manufacturing of advanced semiconductor chips. The role of computational lithography Computational lithography is an important process for transferring circuits to silicon, including complex calculations involving electromagnetic physics, photochemistry, and distributed computing. Historically, this step has…
Cardano price started a new decline below the $0.3550 area. ADA is consolidating above $0.3400 and may attempt a recovery. ADA price started a decline below the $0.3500 support level. The price is trading below $0.3520 and the 100-hour simple moving average. On the hourly chart of the ADA/USD pair, there is a major bearish trendline forming with resistance at $0.3460 (data source from Kraken). If it stays below the $0.3520 resistance zone, the pair may continue to fall. Cardano price consolidates losses After testing $0.3680 resistance, Cardano struggled to hold higher levels. ADA formed a short-term high and started…
Bitcoin (BTC) price action has been sideways for the past 36 hours as BTC failed to break out of the $63,600 and $62,843 range. As you can see from the chart, BTC is currently below the 50-day EMA level, but remains above the 200-day EMA level on the 4-hour chart. BTC/USDT on 4-hour chart. Source: Trading ViewBollinger Bands (BB) indicate that the price may be slightly oversold because the current price is below the indicator’s simple moving average (middle band line). However, the BB line is currently diverging, which indicates that the price action will experience near-term volatility. Related: Short-term…
Binance, the world’s largest digital asset exchange, is about to list the first pre-market altcoin for trading. In a blog post, the exchange revealed that it is listing the new Ethereum (ETH) Layer 2 Scroll (SCR) on its Binance Premarket platform, a service announced last month to allow users to acquire the token ahead of its official spot listing. . Binance says: “Binance will be the first platform to list the tokens mentioned herein, starting pre-market trading from 2024-10-11 10:00 (UTC). Any claims of offering these tokens for sale before the stated schedule are likely false advertising. Please do your…
U.S. prosecutors indicted four cryptocurrency companies and 14 people on Wednesday.Federal prosecutors in Boston indicted Gotbit, ZM Quant, CLS Global and MyTrade and their executives and employees, and the case resulted in several arrests internationally. Reuters It has been reported.The U.S. Department of Justice has been cracking down on cryptocurrency companies over the past year, particularly cryptocurrency exchange Binance. Wednesday’s action marks what prosecutors said was “the first criminal prosecution of a financial services company” linked to market manipulation and fake trading in the cryptocurrency industry, according to Reuters.Four defendants agreed to plead guilty, and more than $25 million in…
Strong demand underpinning EIGEN’s rally promised further gains. If a bearish divergence occurs, there is a possibility of a short-term price decline. EigenLayer (EIGEN) was trading just below $4 at press time. It jumped 11.8% in two hours, from $3.71 a few hours ago to $4.13. Since Monday’s low of $3.28, the EigenLayer token is up 28.58% at the time of writing. This short-term rally also broke the $3.7 resistance level from last week. Extension levels provide traders with optimistic targets. Source: EIGEN/USDT on TradingView From October 3 to 7, EIGEN traded between $3.255 and $3.7. It fell to $3.1…
jack anderson October 8, 2024 17:31 USDC, the leading stablecoin, is now available on the Sui mainnet, enhancing liquidity and value transfer within the DeFi ecosystem as Sui’s TVL exceeds $1 billion. According to the Sui blog, the Sui ecosystem has reached an important milestone with the introduction of native USD Coin (USDC) on the Sui mainnet. The integration of USDC, one of the most widely used stablecoins, will bring Sui’s decentralized finance (DeFi) total value lock (TVL) to exceed $1 billion while providing stable value transfers and increased liquidity. USDC Integration and Benefits…
Sui’s price has surged more than 44% in the past week and more than 65% in 30 days. Profits accrue after the Grayscale Sui Trust is opened for accredited investors. SUI Network’s total fixed value (TVL) exceeded $1.34 billion. The price of SUI has surged, with its total value locked (TVL) surging to $1.3 billion, up 44% in the past week to trade above $1.67. The gains include gains of more than 65% over the past 30 days. This means that the native token of the layer 1 blockchain platform has reached a high last recorded in early April. What…