Tag: solana

Ethereum traders expect volatility ahead of Friday’s $820M options expiry
Altcoins

Ethereum traders expect volatility ahead of Friday’s $820M options expiry

Ether (ETH) will face a critical $820 million monthly options expiry on Friday, Aug. 27. That will be the first time that $3,000 and higher options will have a real fighting chance, even though bulls seem to have missed a good opportunity to dominate the expiry because they were too optimistic about Ether’s price potential.It is unclear why $140 million of the neutral-to-bullish call options were placed between $3,800 and $8,000, but these instruments will likely become worthless as the monthly expiry approaches.Competition and the success of interoperability-focused protocols impact Ether priceThe Ethereum network has struggled due to its own success, which consistently leads to network congestion and transaction fees of up to $20 and higher. Furthermore, the rise of nonfungible tokens an...
Price analysis 8/25: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, BCH
Bitcoin, Price Analysis - Top 10 Crypto

Price analysis 8/25: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, BCH

Bitcoin (BTC) remains on a strong footing after bears failed to capitalize on the rejection near the psychological mark at $50,000. The recent price rise in Bitcoin has not enticed longer-term investors to part with their holdings, and Glassnode data shows that the Bitcoin supply held by long-term holders has hit a new all-time high of 12.69 million BTC. This tops the previous record achieved in October 2020.MicroStrategy’s recent Form 8-K filing with the United States Securities and Exchange Commission shows that the company bolstered its Bitcoin holdings by 3,907 BTC between July 1 and Aug. 23. The company bought at an average price of $45,294. This brings MicroStrategy's total holdings to 108,992 BTC, with an average price of $26,769. Daily cryptocurrency market performance. S...
Price analysis 8/23: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, BCH
Bitcoin, Price Analysis - Top 10 Crypto

Price analysis 8/23: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, BCH

Bitcoin (BTC) rallied above the psychological hurdle at $50,000 today for the first time since May 15. The sharp rally of the past few days has turned the sentiment bullish, with many expecting the resumption of the bull run.Morgan Creek Digital co-founder Anthony Pompliano told CNBC on Monday that Bitcoin could make a blow-off top, similar to the one seen in 2017 when the price had surged from “$10,000 to $20,000 in 18 days.” Daily cryptocurrency market performance. Source: Coin360The Crypto Fear & Greed Index has risen to 79, indicating extreme greed. Just a month back, the indicator was showing a reading of extreme fear at 22. This shows how the sentiment has changed completely within a few days.In other news, on August 22, PayPal announced that it will provide cryptocurrency servic...
How will regulatory troubles and mandatory KYC impact Binance Coin (BNB) price?
Altcoins

How will regulatory troubles and mandatory KYC impact Binance Coin (BNB) price?

Binance Coin (BNB) rallied 30% in two weeks, but the fourth largest cryptocurrency by market capitalization seems to be struggling to break the $450 resistance. Coincidently, this is the same top from June 3, which was followed by a 48% correction down to $225.Given the similarity of the situation when compared to previous instances, investors have reasons to doubt the recent performance, especially as Solana (SOL), a competing smart contract platform, reached an all-time high on August 18. The move was partially attributed to a recent $70-million crowdfund to support its decentralized exchange (DEX), Mango Markets, and the launch of a well-subscribed NFT project.Binance Coin (BNB) price at Binance, in Tether (USDT). Source: TradingViewBNB reacted negatively after the exchange suddenly hal...
Price analysis 8/20: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, BCH
Bitcoin, Price Analysis - Top 10 Crypto

Price analysis 8/20: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, BCH

Wells Fargo, in partnership with NYDIG and alternative assets manager FS Investments, has registered a new investment fund dubbed “FS NYDIG BITCOIN FUND I,” which will offer the bank’s wealthy clients an opportunity to gain indirect exposure to Bitcoin (BTC). In another sign of growing institutional interest, filings submitted to the U.S. Securities and Exchange Commission by BlackRock show a 6.71% stake in Marathon Digital Holdings and a 6.61% stake in Riot Blockchain. BlackRock’s total investments in both the publicly traded Bitcoin mining firms are roughly valued at $384 million.Daily cryptocurrency market performance. Source: Coin360Coinbase CEO Brian Armstrong announced on Aug. 20 that the company’s board had approved a proposal to add $500 million worth of crypto to the balance ...
Analysts say this key metric suggests an altcoin season is at hand
Altcoins

Analysts say this key metric suggests an altcoin season is at hand

Bitcoin’s (BTC) 65% recovery from sub-$29,500 on July 20 to a swing high of $48,200 on Aug. 14 took less than a month and helped bring fresh bullish momentum back to the crypto market and to traders who were dreading the prospect of another prolonged bear market.Currently, the BTC rally has stalled out near the $46,000 price level, and this phase of sideways trading is giving altcoins an opportunity to step forward. As shown in the chart below, the total market capitalization of the altcoin market has risen 80% since July 20. Meanwhile, the Bitcoin dominance rate is down 10% since July 30.Bitcoin dominance vs. total altcoin market capitalization,1-day chart. Source: TradingViewData from TradingView shows that the dominance rate of Bitcoin had been on the rise in recent weeks, but this tren...
Solana is now in price discovery as SOL shows strength below $70 all-time highs
Altcoins

Solana is now in price discovery as SOL shows strength below $70 all-time highs

Solana (SOL), the in-house token of decentralized computing platform Solana, continued major gains on Tuesday to become a top 10 cryptocurrency.SOL/USD 1-hour candle chart (FTX). Source: TradingViewSOL becomes top-10 market cap cryptoData from Cointelegraph Markets Pro and TradingView showed SOL/USD gain another 15% on Tuesday, briefly passing $72.Against weekly returns of nearly 70%, attention from traders was firmly focused on SOL, which on the day had delivered the third-best weekly performance of any crypto token.SOL also entered the top 10 cryptocurrencies by market cap, surpassing Uniswap (UNI).“Solana has rallied +60% since confirming a breakout past the downtrend, rallying to new All Time Highs,” trader and analyst Rekt Capital summarized on the day. Fellow trader Pentoshi was even...
Traders seek hefty gains from altcoins while Bitcoin price consolidates
Altcoins

Traders seek hefty gains from altcoins while Bitcoin price consolidates

Optimism across the cryptocurrency ecosystem continues to grow on Aug. 16 as multiple altcoins put on double-digit gains and Bitcoin (BTC) bulls defend the $46,000 support level. Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Solana (SOL), Presearch (PRE) and Arweave (AR).Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets ProSolana hits a new all-time highIn the past 24-hours, SOL price soared to hit a new high $69.13 as excitement for the protocol’s new Mango Markets decentralized exchange (DEX) helped to increase demand for SOL. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for SOL on Aug. 11, prior to the recent price rise. The VORTECS™ Score, exclusive to ...
Solana price soars to new highs with DeFi project launch, $70M DEX funding
Altcoins

Solana price soars to new highs with DeFi project launch, $70M DEX funding

Solana blockchain’s native asset, SOL, soared to a new record high on Monday.The SOL/USD exchange rate rose by 26.12% to $65.467 on the Binance exchange after traders assessed a flurry of infrastructural developments in the Solana ecosystem, including a recent $70-million crowdfund to support its blockchain-powered decentralized exchange, Mango Markets.Solana ecosystem upgradesMango offers a platform for spot markets, lending and perpetual futures. It sources liquidity from its native pools and Serum, another Solana blockchain-based exchange, which is backed by billionaire Sam Bankman-Fried’s FTX.The working model is very similar to other successful, Ethereum-based decentralized exchanges such as Uniswap and SushiSwap.I don't think you guys realize how bullish @mangomarkets really is5...
Price analysis 8/13: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, SOL, LTC
Bitcoin, Litecoin, Price Analysis - Top 10 Crypto

Price analysis 8/13: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, SOL, LTC

A KPMG report titled “Pulse of Fintech H1 2021,” shows that the total investment in the blockchain and cryptocurrency sector in the first half of this year has risen to $8.7 billion, which is more than double the $4.3 billion worth of deals done in 2020. KPMG global fintech co-leader Anton Ruddenklau said: “Cryptocurrency and blockchain are exploding globally. I think for the rest of this year at least, crypto will be a very hot ticket for investors.”Separate research by blockchain market intelligence Blockdata also shows that 55 out of the top 100 banks by assets under management have directly or through subsidiaries invested in crypto and blockchain firms. Daily cryptocurrency market performance. Source: Coin360Bittrex Global CEO Stephen Stonberg told Cointelegraph that the cry...