Altcoins

KuCoin CEO slams insolvency rumors citing “no plan to halt withdrawal”
Altcoins

KuCoin CEO slams insolvency rumors citing “no plan to halt withdrawal”

Crypto exchange KuCoin found itself at the center of discussion when a sub-community of Crypto Twitter started warning investors about an incoming ban on funds withdrawal. KuCoin CEO, Johnny Lyu, was however quick to dismiss the unvetted rumors before they picked up steam.Prominent crypto figures on Twitter, including trader @KongBTC and blockchain investigator @otteroooo, requested their followers to withdraw all of their funds from the KuCoin while claiming that the exchange may soon stop all users from withdrawing funds.WITHDRAW FROM KUCOIN RIGHT NOWNot a drillno time for threadlike and retweet to spread the messageotter hardly wrong in such matters— otteroooo (@otteroooo) July 2, 2022Rumors linked KuCoin’s intent to stop withdrawals with Terra’s (LUNA) and 3AC collapse, which according...
What bear market? This token is quietly making new highs, up 300% against Bitcoin in 2022
Altcoins, Analysis, Bitcoin

What bear market? This token is quietly making new highs, up 300% against Bitcoin in 2022

Unus Sed Leo (LEO) has not only survived the crypto market bloodbath in the first half of 2022 but has actually posted major gains, bucking the big crypto crash.LEO beats crypto kingpin BitcoinLEO, a utility token used across the iFinex ecosystem, finished the first half of 2022 against Bitcoin at 32,793 satoshis, up almost 300%. The token also rallied 55% against the U.S. dollar in the same period, hitting $5.80 for the first time since February 2022. In contrast, Bitcoin (BTC) and Ether (ETH), the top two crypto assets by market cap, fell by over 60% and 70%, respectively.Top-ranking crypto assets and their performances per timeframes. Source: MessariThat has made it the best-performing crypto asset in the top ranks so far into 2022.What's driving LEO price higher?The crypto market ...
Better days ahead with crypto deleveraging coming to an end — JPMorgan
Altcoins

Better days ahead with crypto deleveraging coming to an end — JPMorgan

The historic deleveraging of the cryptocurrency market could be coming to an end, which could signal the close of the worst of the bear market, according to a JPMorgan analyst.In a Wednesday note, JPMorgan strategist Nikolaos Panigirtzoglou highlighted the increased willingness of firms to bail out companies and a healthy pace of venture capital funding in May and June as the basis for his optimism. He said key indicators support the assessment:“Indicators like our Net Leverage metric suggest that deleveraging is already well advanced.”The deleveraging of major crypto firms, where their assets have been sold either willingly, in a rush or via liquidation, began largely in May when the Terra ecosystem collapsed and wiped out tens of billions of dollars. Since then, crypto lenders Block...
Analysts identify 3 critical flaws that brought DeFi down
Altcoins

Analysts identify 3 critical flaws that brought DeFi down

The cryptocurrency market has had a rough go this year and the collapse of multiple projects and funds sparked a contagion effect that has affected just about everyone in the space. The dust has yet to settle, but a steady flow of details is allowing investors to piece together a picture that highlights the systemic risks of decentralized finance and poor risk management.Here’s a look at what several experts are saying about the reasons behind the DeFi crash and their perspectives on what needs to be done for the sector to make a comeback. Failure to generate sustainable revenueOne of the most frequently cited reasons for DeFi protocols struggling is their inability to generate sustainable income that adds meaningful value to the platform's ecosystem. Fundamental Design Principles for...
Traders debate whether Solana (SOL) is a buy now that it’s down 87% from its all-time high
Altcoins

Traders debate whether Solana (SOL) is a buy now that it’s down 87% from its all-time high

The crypto sector is caught in a deep correction and recent reporting shows that a majority of altcoins are more than 70% down from their 2021 highs. Solana is on that list and investors are on the fence about whether the token has strong enough fundamentals to warrant buying Solana (SOL) at its current value. Data from Cointelegraph Markets Pro and TradingView shows SOL is down 87.5% from its all-time high and given the current state of the market, most price breakouts fail to notch a daily higher high.SOL/USDT 1-day chart. Source: TradingViewDespite, the dismal outlook, there are a few potential positives that could make Solana a project to watch once the wider market enters a consolidation phase.Solana MobileSOL price received a quick boost late last week after a June 23 announceme...
Bitcoin price drops 3% to ten-day lows as Ethereum inches closer to $1K
Altcoins, Bitcoin

Bitcoin price drops 3% to ten-day lows as Ethereum inches closer to $1K

Bitcoin (BTC) lost 3% in an hour and Ether (ETH) drifted toward $1,000 on June 30 as pessimism took control of crypto markets.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTraders eye "sweep of lows" for BTCData from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $19,224 on Bitstamp during Asian trading, its lowest since June 19.A lack of momentum on upticks combined with a failure to reclaim critical support at the 200-week moving average set the scene for fresh weakness on Bitcoin. The largest cryptocurrency thus dived to the support area defined a day prior by Cointelegraph contributor Michaël van de Poppe.In fresh analysis on the day, meanwhile, traders toyed with the idea of a relief bounce towards $20,000. I expect more range trading within this prices ...
After 8 years dumping billions of XRP, Jed McCaleb’s stack runs out in weeks
Altcoins

After 8 years dumping billions of XRP, Jed McCaleb’s stack runs out in weeks

Former Ripple Labs founder Jed McCaleb is nearing the end of his eight-year Ripple (XRP) dump marathon, with only 81.53 million XRP, worth $26.55 million at the time of writing, remaining in his wallet’s balance.According to Jed Balance, a website tracking his XRP holdings, McCaleb’s wallet name “tacostand” has been shedding an average of 4.06 million XRP over the last month but has ramped up daily transfers to 7.34 million XRP, worth $2.39 million, since Sunday. At the current rate of selling, his wallet may be depleted within the next two to three weeks, to the delight of the crypto community. On Wednesday, Mason Versluis, a TikTok influencer and YouTuber known as Crypto Mason, shared the news to his 115,000 followers on Twitter, highlighting that 22 million XRP has been released in the ...
Stratis (STRAX) gains 200%+ after Sky Dream Mall metaverse and stablecoin announcement
Altcoins

Stratis (STRAX) gains 200%+ after Sky Dream Mall metaverse and stablecoin announcement

Bear markets can be incredibly harsh for projects that have little adoption or lack an applicable use case, but projects that dedicate to building regardless of market sentiment tend to succeed in the next market cycle.One project that has seen a noticeable boost in volume, despite the wider-market downtrend is Stratis (STRAX), a blockchain development platform designed to help enterprise businesses establish their own blockchain in a simplified manner. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.365 on June 15, the price of STRAX has rallied 220% to hit a daily high of $1.20 on June 29 amid a surging 24-hour trading volume. STRAX/USDT 1-day chart. Source: TradingViewHere are three reasons why the price of STRAX is rallying this week as the wide...
Price analysis 6/29: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO
Altcoins, Bitcoin

Price analysis 6/29: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO

The United States equities markets have given back some of the gains made last week and that has pulled Bitcoin to the psychological support at $20,000. This suggests that investors are nervous to buy risky assets at higher levels.Meanwhile, while speaking to the hosts of the Bankless podcast on June 23, Mark Cuban said that the crypto bear market could end after the price gets so cheap that investors go and start buying or an application with utility is launched that attracts users.Daily cryptocurrency market performance. Source: Coin360Several analysts expect Bitcoin to continue falling and eventually bottom out between $10,000 and $12,000. However, John Bollinger, the creator of the popular Bollinger Bands trading indicator, said that the monthly charts suggest that Bitcoin’s price...
Uniswap analysis: UNI price can double based on a classic technical pattern
Altcoins

Uniswap analysis: UNI price can double based on a classic technical pattern

Uniswap (UNI) market valuation could grow by 100% in the second half of 2022 as it paints a classic bearish reversal pattern.UNI price bullish setupDubbed "inverse head and shoulders (IH&S)," the technical setup takes shape when the price forms three troughs in a row below a common support level (neckline), with the middle one (head) deeper than the other two (shoulders). Additionally, it resolves after the price breaks above the support level.The UNI price trend since May 23 checks all the boxes for forming an IH&S pattern, except the right shoulder. A retest of its neckline near $5.71 would form the right shoulder, increasing the possibility of an iH&S breakout scenario, as shown below.UNI/USD daily price chart featuring IH&S setup. Source: TradingViewAs a rule of te...