Tag: assets

Survey shows 55% of crypto investors chose to HODL as Bitcoin and altcoin prices collapsed
Bitcoin

Survey shows 55% of crypto investors chose to HODL as Bitcoin and altcoin prices collapsed

Crypto and equities markets are down and aside from the positive news of Celsius repaying all of their debt and avoiding a massive liquidation, there are few on the spot reasons that are prompting investors to buy Bitcoin and altcoins.The collapse of  numerous decentralized finance (DeFi) protocols, crypto investment funds and BTC trading 60% below its all-time high continue to weigh on sentiment but a few positive tidbits of data could be a sign that the market is ready to enter a consolidation phase.expect people will shift from a comatose state of fear to the realization that tens of billions of $ in forced spot selling (LFG, 3AC, lenders, miners) were a capitulation/risk transfer rivaled only by the Covid crash https://t.co/vAj7HfTKxf— light (@lightcrypto) July 7, 2022Crypto ...
Crisis in crypto lending shines light on industry vulnerabilities
Analysis

Crisis in crypto lending shines light on industry vulnerabilities

The crypto market has entered a bearish phase as prices of major cryptocurrencies have fallen to a four-year low. The current downturn in the crypto market has driven several crypto firms to go out of business, while many have made severe job cuts to remain afloat.The crypto market crisis began with the Terra debacle that saw $40 billion in investors’ money vanish from the market. At the time, the crypto market showed good resistance against such a massive collapse. However, the after-effects of the collapse had a greater impact on the crypto market, especially crypto lending firms, which many believe are responsible for the current bearish phase.The lending crisis began in the second week of June when top lending firms started to move their funds to avoid liquidations on overleveraged pos...
Crypto funds under management drop to a low not seen since July 2021
Altcoins

Crypto funds under management drop to a low not seen since July 2021

Digital asset investment products saw $141 million in outflows during the week ending on May 20, a move that reduced the total assets under management (AUM) by institutional funds down to $38 billion, the lowest level since July 2021. According to the latest edition of CoinShare’s weekly Digital Asset Fund Flows report, Bitcoin (BTC) was the primary focus of outflows after experiencing a decline of $154 million for the week. The removal of funds coincided with a choppy week of trading that saw the price of BTC oscillate between $28,600 and $31,430. BTC/USDT 1-day chart. Source: TradingViewDespite the sizable outflow, the month-to-date BTC flow for May remain positive at $187.1 million, while the year-to-date figure stands at $307 million.On a more positive note, the multi-asset catego...
Bitcoin price spike to $39K leads traders to say ‘the panic is over for a few days’
Bitcoin

Bitcoin price spike to $39K leads traders to say ‘the panic is over for a few days’

Global financial markets and crypto markets were pummeled over the past 24-hours as the invasion of Ukraine by Russian forces sent investors scrambling and sell-offs took place across most asset classes.Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) hit a low of $34,333 in the early trading hours on Feb. 24, shortly after the Ukraine incursion began, and has since climbed its way back to $38,500 after an unexpected short-squeeze may have rapped bearish investors on the knuckles.BTC/USDT 1-day chart. Source: TradingViewHere’s a look at what several analysts are saying about BTC price and how the ongoing conflict could impact crypto markets in the short-term.BTC in a “great buy area”Bitcoin's collapse on the night of Feb. 23 was not unexpected by mo...
3 reasons why DeFiChain (DFI) price has gained 60% in December
Altcoins

3 reasons why DeFiChain (DFI) price has gained 60% in December

Decentralized finance (DeFi) offers one of the most widely applicable use-cases for distributed ledger technology and today it is one of the main avenues for the wider adoption of blockchain technology. Last week, as the wider crypto market corrected and Bitcoin (BTC) dropped by 22%, DeFiChain (DFI) bucked the trend and rallied 76% to establish a new high at $5.70 on Dec. 6 as its 24-hour trading volume surged from an average of $3.6 million to $24.3 million.DFI/USDT 4-hour chart. Source: TradingViewThree reasons for the price breakout for DFI include the launch of decentralized assets on the DFI mainnet, a surge in transactions and users on the network and an increase in the total value locked on the protocol. Traders pile into decentralized stocks and cryptocurrenciesThe biggest source o...
Bitcoin AUM falls 9.5% to record largest monthly pullback since July
Altcoins

Bitcoin AUM falls 9.5% to record largest monthly pullback since July

While Bitcoin’s (BTC) position as a viable hedge against fiat inflation continues to attract investors, new data reflects a change in sentiment as Ethereum (ETH) and other cryptocurrency products pick up steam against falling Bitcoin assets under management (AUM).The Bitcoin AUM market fell 9.5% to $48.7 billion in November, marking the year’s largest month-on-month pullback since July, according to a CryptoCompare report. On the other hand, altcoin-based crypto funds such as ETH saw their AUM rise 5.4% to $16.6 billion.Monthly AUM of aggregated products. Source - CryptoCompareAs shown in the above graph, the total AUM across all digital asset investment products has fallen 5.5% to $70.0 billion, which coincides with the ongoing bear market ever since Bitcoin achieved an all-time high of a...
MoneyGram launches USDC settlement using the Stellar blockchain
Blockchain News

MoneyGram launches USDC settlement using the Stellar blockchain

Financial services company MoneyGram International has partnered with the Stellar Development Foundation to enable consumers to send money using Circle’s popular stablecoin, USD Coin (USDC), and convert directly to and from fiat. Per a Wednesday announcement, MoneyGram has integrated support allowing crypto wallets connected to the Stellar Network to access its global retail platform. Working alongside Circle, MoneyGram will also enable “near-instant backend settlement,” account funding and local fiat withdrawals using the USDC stable token.United Texas Bank will act as the settlement bank to complete the process within the regulatory framework.“As crypto and digital currencies rise in prominence, we’re especially optimistic about the potential of stablecoins as a method to streamline...
Operating a crypto exchange in Japan is ‘rather tough,’ FSA chief admits
Bitcoin

Operating a crypto exchange in Japan is ‘rather tough,’ FSA chief admits

The new commissioner of Japan’s Financial Services Agency (FSA), Junichi Nakajima, believes the country needs to think carefully before making Bitcoin (BTC) and other cryptocurrencies more accessible to the general public.Nakajima believes crypto assets like Bitcoin have the potential to benefit the public as a quick and cheap way to transfer money, he said in an interview with Bloomberg. However, most of the crypto assets are currently used for speculation and investment instead. That’s why the Japanese regulator believes careful consideration is required before making it easier for the general public to invest in crypto assets. Nakajima said that the high volatility of crypto markets due to not having underlying assets is a primary reason for the Japanese regulator not to allow...