Author: Sollcrypto
Recent on-chain activity suggests a significant response to regulatory uncertainties surrounding Ethereum, the second-largest cryptocurrency by market capitalization. There has been a notable increase in the volume of tokens being transferred to centralized cryptocurrency exchanges. This surge is the largest recorded since September 2022, exerting a profound impact on Ethereum’s price. Ethereum witnesses its most substantial influx onto exchanges in the past two years. Recently, Ethereum has come under significant scrutiny. Critics within the cryptocurrency community point to its underwhelming price performance and the emergence of Solana as indicators of Ethereum’s waning influence. Additionally, regulatory bodies are reportedly scrutinizing the…
Bitcoin price failed to recover above the $68,000 resistance zone. BTC is sliding and might decline again toward the $62,000 support zone. Bitcoin’s price encounters obstacles. Bitcoin’s price made a notable attempt to recover above the $65,000 resistance region. It managed to surpass both the $66,000 and $67,000 levels. Nevertheless, bearish pressure emerged around the $68,000 mark. The price reached a peak at $68,137 before retracing lower. Subsequently, it broke below the $66,000 support level and dipped beneath the 23.6% Fib retracement level of the upward wave from the $60,778 low to the $68,137 high. Currently, Bitcoin is trading under…
Ranked as the 9th largest cryptocurrency by market capitalization, Cardano (ADA) has faced a downward trajectory amid the prevailing bearish sentiment across the crypto market. Bitcoin (BTC), as the market leader, has spearheaded price corrections among leading cryptocurrencies. Although ADA experienced a retracement of nearly 20% over the past week after hitting a 22-month high of $0.810 on March 14, there are signs suggesting a possible trend reversal. This change in momentum could propel ADA towards reclaiming the $1 milestone, a level it hasn’t reached since April 2022. ADA is witnessing a surge in bullish momentum. Crypto analyst “Trend Rider,”…
Ethereum price started a recovery wave from the $3,050 zone. ETH is up over 10% and is now struggling to clear the $3,550 resistance zone. Ethereum initiates its recovery phase with a rebound in price. The Ethereum price experienced a further decline below key levels such as $3,350 and $3,200, mirroring Bitcoin’s movement. It even dipped below the crucial $3,150 support before witnessing a resurgence from bullish investors, testing the $3,050 zone. Reaching a low at $3,059, the price has begun an upward trajectory. Notably, a robust recovery wave surpassed the $3,350 resistance mark. Additionally, the price breached the 50%…
Coinbase has been selected as a vital infrastructure provider for Blackrock’s recently introduced tokenized investment fund, as disclosed by the crypto exchange. Blackrock’s head of digital assets remarked, “This marks the next step in our digital assets strategy. Our focus remains on crafting solutions within the digital assets realm to address tangible challenges for our clientele.” Coinbase and Blackrock are collaborating on a tokenized investment fund project. Blackrock, the world’s largest asset manager, introduced its inaugural tokenized fund issued on a public blockchain in partnership with Securitize Markets on Wednesday. Dubbed the Blackrock USD Institutional Digital Liquidity Fund (BUIDL), the…
In the past 24 hours, Ethereum has surged back to the forefront of the non-fungible token (NFT) market, reclaiming its position as the leading blockchain with a remarkable 12.06% increase in sales, totaling $12.47 million, according to data from CryptoSlam. Despite experiencing a minor 5.29% decrease in wash sales—a type of transaction often used to artificially boost volume—Ethereum’s performance has significantly contributed to its record-breaking total sales volume, which now stands at an impressive $43.27 billion. Bitcoin, which had been leading in NFT sales until Wednesday of this week, secured the second position with $10.9 million in sales, marking another…
Bitcoin (BTC) experienced a surge in price on Wednesday following the latest Federal Open Market Committee (FOMC) meeting, where the Federal Reserve opted to maintain interest rates unchanged. This decision maintains the central bank’s benchmark rate within the range of 5.25% to 5.50%, dampening investors’ expectations for a more accommodative stance in the immediate future. Prior to the announcement, Bitcoin was trading at $62,000, but quickly climbed to $64,600 as the updated interest rate was disclosed. In its statement, the Fed highlighted ongoing economic expansion, low unemployment rates, and persistent inflation. The Fed expressed its intention to hold off on…
According to data from CoinGlass, derivatives trading volume for Cardano’s ADA token has surged by an impressive 83%, reaching a total of $1.61 billion. This substantial increase in trading activity reflects a heightened interest among participants in the cryptocurrency market towards ADA. Despite the uptick in trading volume, not all recent market movements have favored ADA holders. Over the past 24 hours, a notable $4.79 million worth of open positions in ADA have been liquidated. Surprisingly, the majority of these liquidations, totaling $4.55 million, were long positions, indicating a flurry of buying activity. Only a small fraction, amounting to $244,490,…
Despite a widespread downturn in the cryptocurrency market, with more than $230 billion erased within a 24-hour period, certain assets maintain an overbought status on the daily Relative Strength Index (RSI). The Relative Strength Index serves as a potent gauge of market momentum, akin to a thermometer for current market conditions. Presently, the average daily RSI for all cryptocurrencies has fallen to 44.25, hovering between ‘neutral’ and ‘weak’ territory. This marks a notable shift from the previous week, where the average RSI surpassed 60, indicating a ‘strong’ market. These insights were gathered by Finbold through data sourced from the CoinGlass…