Altcoins

Bitcoin bulls make a run on $45K after Twitter debuts crypto tipping
Altcoins

Bitcoin bulls make a run on $45K after Twitter debuts crypto tipping

Bullish optimism is on the rise across the cryptocurrency market on Sept. 23 as prices continue to recover from this week's volatility which was the result of regulatory pressure on the crypto sector, the FOMC meeting on the Fed's interest rate hikes and monetary policy, along with fears that the Evergrande situation would ripple out to impact global financial markets.Data from Cointelegraph Markets Pro and TradingView shows that after trading in a range between $43,000 and $44,300 during the early trading hours on Thursday, the price of BTC spiked above $44,800 in the early afternoon and now takes aim at flipping the $45,000 resistance level into support. BTC/USDT 4-hour chart. Source: TradingViewThe timing of the spike in BTC price aligns closely with Twitter's announcement that users wi...
Cointelegraph Consulting: How Avalanche is reimagining DeFi
Altcoins

Cointelegraph Consulting: How Avalanche is reimagining DeFi

It’s not the first time that the native token of the Avalanche blockchain has encountered wild fluctuations. In February, AVAX shot as high as $60 only to reach a nadir in June and July. But after bottoming at $9.34, AVAX is now beyond $60 and is currently trading at $76. This has earned it a spot in the top 20 cryptocurrencies by market capitalization with $16 billion, according to Cointelegraph Markets Pro. Avalanche is among the layer-one blockchains tagged as “Ethereum killers” that appear to have reduced the recent dominance of the top altcoin in terms of total locked value (TVL). Of the $170 billion in TVL, Ethereum presently controls 67% based on data from Defi Llama. But while the number appears high, it’s actually much lower than February when it contained about 96% in TVL.Backgro...
BTC crash: Was it actually Evergrande? | Watch The Market Report live w/ Eric Krown
Altcoins

BTC crash: Was it actually Evergrande? | Watch The Market Report live w/ Eric Krown

Tune in to watch Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman. Here’s what to expect in this week’s markets news breakdown: After failing to reach $50,000, Bitcoin (BTC) slid back down to $40,000 on Monday before recovering to $44,000. What, or who, was behind this pullback?Dogecoin (DOGE) is gaining popularity even though transaction levels are at a low. Why is this happening?United States President Joe Biden nominated a new head for the Office of the Comptroller of the Currency, Saule Omarova, who is an anti-crypto law professor. If this nomination succeeds, how significantly will it impact crypto?Next up, resident experts Pechman and Finneseth take a dive deep into the most important factors driving the markets in ...
Axie Infinity (AXS) gains over 45%, but ‘death cross’ fears persist
Altcoins, Bitcoin

Axie Infinity (AXS) gains over 45%, but ‘death cross’ fears persist

Axie Infinity’s native cryptocurrency, Axie Infinity Shards (AXS), bounced higher on Sept. 23 as the market’s focus shifted to its listing on two major crypto trading platforms, Bitfinex and Bitstamp.The AXS/USD exchange rate surged 15.52% to $69.86, negating all the losses that it incurred at the beginning of the week. The intraday rally came as a part of an overall bullish retracement that began on Sept. 21 when AXS was changing hands for $48.05. Crypto assets recoverOn Sept. 20, markets were on edge due to looming economic trouble in the Chinese property market surrounding Evergrande, which is massively indebted yet the largest builder of homes. Fearing a 2008-like housing bubble scenario, investors precautiously shifted their capital out of the stock market and sought haven in the...
Too ‘grande’ to fail — Bitcoin price stumbles at $44K as China plans for Evergrande’s implosion
Altcoins, Bitcoin

Too ‘grande’ to fail — Bitcoin price stumbles at $44K as China plans for Evergrande’s implosion

Bitcoin (BTC) faced stiff resistance above $44,000 on Thursday, Sept. 23, as China told governments to prepare for property giant Evergrande to collapse.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBuyers line up to snag sub-$40,000 BTCData from Cointelegraph Markets Pro and TradingView showed volatility continuing for BTC/USD Thursday.The pair had seen a solid recovery overnight, this fading at what was previous support just above $44,000.At the time of writing, the pair traded at around $43,700, dipping as news hit that China was briefing governmental structures on Evergrande’s financial fallout.Signals remain mixed over the troubled firm, shares of which jumped amid signs of an exit from what chairman Hui Ka Yuan called its “darkest moment.”For Bitcoin traders, however, it...
Altcoins see a 35% bounce after Bitcoin reclaims $43,000
Altcoins

Altcoins see a 35% bounce after Bitcoin reclaims $43,000

The sharp correction that threatened to pull Bitcoin and altcoin prices back toward their sing lows appears to have dissipated now that Evergrande informed investors that it intends to make an on-time payment on its debt. With global markets feeling reassured, major equities, Bitcoin and altcoins prices all saw a rebound at the market open. After a swift drop below $40,000 on Sept.21, BTC now trades above $43,300 and Ether (ETH) has reclaimed the $3,000 level. Altcoins have also seen a strong recovery, with many posting up to 15% gains at the time of writing.Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets ProData from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Livepeer (LPT), COTI (COTI) and Axi...
Avalanche recovers from Evergrande-led sell-off as AVAX rebounds over 30%
Altcoins

Avalanche recovers from Evergrande-led sell-off as AVAX rebounds over 30%

Avalanche (AVAX) prices recovered on Sept. 22, paring a portion of losses that hit cryptocurrencies at the beginning of this week, led by worries about potential contagion in China’s housing market.The AVAX/USD exchange rate surged by as much as 12.05% to log an intraday high at $66.08. The pair’s gains came as a part of an interim rebound that started Tuesday after it bottomed out at a local low of $50.68. As a result, AVAX’s net rebound stretched by up to 30.37%.Cointelegraph’s VORTECS™ Score also flipped bullish ahead of the Avalanche token rally. AVAX price vs. VORTECS™ Score. Source: Cointelegraph Markets ProThe VORTECS™ Score is an algorithmic indicator comparing historical market and social conditions around each coin to those currently observed. Exclusively available...
Pundits say crashing floor prices and sell volume signal that ‘the NFT market has died’
Altcoins

Pundits say crashing floor prices and sell volume signal that ‘the NFT market has died’

Nonfungible tokens (NFTs) dominated crypto and mainstream media headlines all throughout 2021 as investors who held CryptoPunks and other projects minted prior to 2018 were finally rewarded for their patience. Meanwhile, newer projects like the Bored Ape Yacht Club and Art Blocks Curated saw some of their rarer pieces sell for millions of dollars. Despite the million-dollar sales for select one-of-a-kind NFTs and the record-breaking sell volumes on marketplaces like OpenSea, data shows that a majority of the lower-priced NFTs and lesser-known projects in the market do not accrue value and this means that the sector is rather illiquid. Using data from OpenSea, a recent report from Bloomberg found that 73.1% of NFT assets had only one transaction in the past 90 days. The number of ...
Ethereum’s spot setup looks grim, but derivatives data tells a different story
Altcoins

Ethereum’s spot setup looks grim, but derivatives data tells a different story

Ether (ETH) price fell below the $3,000 support on Sept. 20 as global markets entered a risk-aversion mode. The Invesco China Technology ETF (CQQQ) closed down 4.2%, while the SPDR S&P Metals and Mining ETF (XME) lost 3.8%.Some analysts pointed to the potential ripple effects of the default of Evergrande, a major Chinese real estate company. In contrast, others blame the ongoing debates over the debt limit in Washington as the catalyst for this week's volatility. As a result, the CBOE Volatility Index (VIX), usually referred to as the "stock market fear index," jumped by more than 30% to reach its highest level since May.On Sept.19, United States Treasury Secretary Janet Yellen called for Congress to raise the U.S. debt ceiling again in a Wall Street Journal op-ed. Yellen suggested tha...
DeFi’s potential means more institutional demand for next-gen tokens
Altcoins

DeFi’s potential means more institutional demand for next-gen tokens

There’s no denying that the last couple of years have seen the altcoin sector blossom and have a major impact on the crypto market at large. In fact, a quick look at data available on Google Trends shows us that searches related to the term “Ethereum killer” have been soaring over the past 90-days, signaling a growing interest among investors in various altcoins.In this regard, a few cryptocurrencies — such as Cardano (ADA), Solana (SOL), Polkadot’s DOT and Terra (LUNA) — have made a major market push recently. SOL, in particular, has been turning a lot of heads among investors, thanks in large part to its most recent rally, which saw the cryptocurrency surge despite the market experiencing a massive selloff. In addition, there are several other networks that have shown a lot of promi...