Author: Sollcrypto
The Ethereum price is gradually ascending beyond the $1,600 mark against the US Dollar, indicating potential bullish momentum unless it experiences a significant drop below $1,550. Ethereum is displaying several positive indicators, suggesting a potential breakthrough above the $1,650 resistance level. The price currently trades above $1,600 and the 100-hourly Simple Moving Average. Additionally, there was a notable breakthrough above a critical bearish trend line with resistance around $1,610 on the hourly ETH/USD chart (data sourced from Kraken). Should the price manage to secure a close above $1,650 and subsequently surpass $1,670, it may initiate a substantial upward movement. There…
Despite Bitcoin’s recent rebound to the critical level of $26,100, which indicates a pivotal juncture for its future upward momentum and acts as a barrier against further declines, there are concerning indicators that may give pause to Bitcoin enthusiasts in the short term. The convergence of these factors creates a potential recipe for a market correction. One contributing factor is the unexpectedly high U.S. headline inflation rate for August, which stood at 3.7%, up from the previous month’s 3.2%. While not a game-changing development, it suggests that the likelihood of another interest rate hike has marginally increased, now reaching 53%.…
In the midst of Bitcoin’s ongoing price fluctuations, altcoins are encountering a tough trial marked by substantial price declines. In the upcoming week, investors are eagerly anticipating significant developments, including the announcement of the Fed interest rate decision on the following Wednesday, following FTX asset liquidations and the release of inflation data. Nonetheless, amidst all these events, Litecoin has reached a notable milestone. Litecoin LTC On September 11th, Litecoin’s price fell below $60, marking the first time since the well-known FTX crash in November 2022. While many other altcoins tested their historic lows, Litecoin (LTC) experienced a relatively more favorable…
Coinbase, the prominent cryptocurrency exchange, has officially affirmed its commitment to incorporate the Lightning Network, a layer 2 payment protocol. This move comes as users increasingly seek swifter and more cost-effective Bitcoin (BTC) transactions. The Lightning Network (LN) was developed with the aim of addressing Bitcoin’s scalability challenges and competing with newer cryptocurrency ventures that boasted faster and more economical transaction solutions. Until recently, major cryptocurrency exchanges such as Coinbase and Binance had not expressed any intention to adopt this layer 2 solution. Some community members contended that Lightning Network integration offered fewer financial incentives for exchanges. In defiance of…
Bitcoin has staged a rebound after a brief dip below the $25,000 mark on Monday, indicating that bullish sentiment might persist for the leading cryptocurrency. Based on data from TradingView, Bitcoin momentarily touched $24,901 on Monday before rallying to finish the day at $25,162. Crypto traders suggest that this dip likely sparked buying interest around the $25,000 level, subsequently driving a price recovery. Bitcoin has maintained a steady range between $25,000 as support and $26,800 as resistance, establishing a trading range that has held for nearly a month. A successful close above $26,800 could serve as a signal for a…
Throughout this year, institutional cryptocurrency investors have been steadily exiting the market, particularly due to the prevailing bearish sentiment. Nevertheless, Ethereum has endured a significantly more pronounced decline compared to other assets, as its outflows have exerted downward pressure on the total assets under management (AuM). This trend has emerged as Ethereum faces challenges following its descent below the critical support level of $1,600. Institutional Investors Withdraw from Ethereum. In its latest Digital Asset Fund Flows Weekly Report, alternative asset manager CoinShares has disclosed a growing reluctance among institutional investors when it comes to Ethereum. This reluctance is evident in…
Amidst Bitcoin’s turbulent trajectory, as it trades at $25,187, marking a 2.16% decline on Tuesday, the broader cryptocurrency landscape undergoes notable transformations. The overall cryptocurrency market capitalization has now dipped below the $1 trillion mark, primarily due to significant players, often referred to as ‘whales,’ shedding Bitcoin and Ethereum holdings. In an additional cause for concern, Gary Gensler, ahead of his Senate testimony, has reiterated his reservations about cryptocurrencies, rehashing familiar criticisms. Concurrently, in anticipation of stricter regulations, Luno, a prominent cryptocurrency exchange, has taken preemptive measures by restricting certain UK clients from participating in digital currency investments. Cryptocurrency Market…
Shiba Inu’s Layer-2 blockchain, Shibarium, has reached a significant milestone, with its transaction count now exceeding 2 million, and daily transaction volume consistently surpassing 200,000. The achievement of this remarkable milestone occurred within a mere 15 days since the Shiba Inu team reintroduced Shibarium for public usage. Furthermore, this accomplishment follows closely on the heels of the L2 blockchain’s earlier milestone of 1 million total transactions, which was reached just a week ago, as per data available on Shibariumscan. Daily transactions on Shibarium have exceeded 200,000. Significantly, Shibarium’s transaction volume reached a milestone of over 2 million transactions following a…
A decentralized finance (DeFi) advocacy organization has formally requested the United States Patent and Trademark Office (USPTO) to review a patent owned by a company it accuses of engaging in “patent trolling” – a practice where a company seeks to profit from patent litigation. In a blog post dated September 11th, the DeFi Education Fund (DEF) announced that on September 7th, they submitted a comprehensive petition spanning over 90 pages to the Patent Trial and Appeal Board. The objective is to invalidate a patent held by True Return Systems. This patent, which was granted in 2018, asserts ownership of a…
Coinbase Prime has bolstered institutional access through the introduction of an advanced Web3 wallet. This non-custodial wallet utilizes Multi-Party Computation (MPC) technology and is tailored to offer a comprehensive range of features specifically designed for the institutional sector. With this new wallet, institutional and corporate clients gain the capability to securely store tokens from supported networks, even including assets not currently available through Coinbase Prime Custody. Key functionalities include instant access to funds, direct interaction with decentralized applications (dApps) and smart contracts, as well as the ability to tap into decentralized liquidity for substantial asset trades. Clients can actively participate…