Author: Sollcrypto
Bitcoin (BTC) Rebounds After ‘Black Swan’ Event Resembling March 2020 COVID-19 Crash, Indicating Recovery On September 7, CryptoQuant, an on-chain analytics platform, highlighted a significant surge in unprofitable unspent transaction outputs (UTXOs), underscoring Bitcoin’s resurgence from an event comparable to the March 2020 COVID-19 crash. Bitcoin is currently valued at $25,770. CryptoQuant: Loss-Making Bitcoin UTXOs Reflecting March 2020 Situation While Bitcoin’s recent price weakness may be causing concern among market participants, on-chain data reveals an intriguing perspective on the underlying activity. UTXOs, representing the remaining BTC after an on-chain transaction, are under scrutiny through CryptoQuant’s UTXOs in Loss metric. This…
“Solana (SOL), once a standout performer during the previous bull market, is currently leaving investors puzzled with its current performance. The ongoing downward trajectory of Solana has breached the psychologically significant $20 mark in the daily time frame. As bearish sentiment continues to prevail, the price now hovers within a critical range of interest for bullish investors. Nonetheless, a potential reversal in this downward trend could be contingent on Bitcoin’s price action, particularly as it emerges from the price level below $26,000.” Solana Price: How Much is it? “A downward analysis reveals that the price bracket spanning from $18 to…
“The Terra Luna Classic community is presently participating in numerous proposal votes. However, there is growing concern that the number of “spam” proposals has surged following a decline in LUNC prices in recent months. A fresh proposal has been introduced for voting, aiming to raise the minimum deposit requirement from 1 million LUNC to 5 million LUNC. The market is showing signs of potential upward momentum as the upgrade approaches.” “Terra Luna Classic Community Launches Initiative to Counteract Spam Proposals” “Proposal 11780, titled ‘Initiative to Deter Spam Proposals by Raising Minimum Deposit to 5M LUNC,’ is currently open for voting.…
Ambitious plans for a non-fungible token-linked restaurant and exclusive members’ lounge in San Francisco have abruptly dissolved. The company behind the venture ceased construction due to challenging macroeconomic circumstances. These two establishments were in the process of being developed within Salesforce Park, bearing the names “Sho Restaurant” and “Sho Club Sky Lounge.” The latter was exclusively reserved for holders of Sho Club NFTs, which were priced between $7,500 and $300,000, offering access to forthcoming hospitality ventures by the Sho Group. Speaking to the San Francisco-focused news outlet SFGATE on September 7, Joshua Sigel, CEO of Sho Group, acknowledged that the…
Steakhouse, a financial advisory firm specializing in decentralized autonomous organizations (DAOs), has partnered with Phoenix Labs, a research and development company, to present a proposition to the MakerDAO community. They propose allocating as much as $100 million from MakerDAO’s reserves towards investments in tokenized US Treasury Bill (T-Bill) products. Currently in the discussion phase, this proposal seeks to foster fresh avenues for financial innovation within the decentralized finance (DeFi) realm. Enhancing Liquidity Efficiency for MakerDAO? MakerDAO, renowned for issuing the DAI decentralized stablecoin, has previously made substantial investments in US Treasuries via off-chain structures since 2022, totaling over a billion…
Cardano’s price journey resembles the gradual illumination of a slow-burning candle, steadily progressing toward its 21-day moving average. Currently valued at $0.2579, ADA appears to be testing this critical resistance level. However, there’s a catch: although trading volume is on the rise, it has yet to break free from the persistent pattern of diminishing liquidity that has prevailed for some time. The gradual increase in trading volume can be likened to a reserved introvert finally finding their voice in a room full of extroverts. It’s an encouraging sign, but it’s essential to remain cautious. The broader perspective still portrays a…
While ETH’s price has been trading within a range, fluctuating between the $1,600 support and the $1,700 resistance, there are indications of an imminent shift in its trend. A previous attempt to solidify a bullish outlook was abruptly halted, leading to Ethereum retracing to validate the short-term support at $1,600. This upward movement coincided with a broader bullish sentiment in the market, which saw Bitcoin reach $26,400 late on Thursday. ETH’s price briefly reached $1,660 before encountering resistance at the 100-day Exponential Moving Average (EMA) represented by the blue line. Currently, Ethereum’s live price has marginally increased by 0.1% for…
Based on the most recent data, the price of Bitcoin has experienced a 2.3% uptick, swiftly rising from approximately $25,800 to its current trading level of $26,200. Notably, altcoins also displayed gains, albeit on a proportionally smaller scale. Ethereum’s price witnessed a 1.28% increase, BNB’s price rose by 1.12%, and XRP’s price saw a 0.97% uptick within the past hour. Within the top 100 cryptocurrencies, the most notable hourly gains were recorded by ALGO, LTC, and LINK. In terms of liquidation data, the cryptocurrency market saw approximately $28.33 million in liquidations during the last hour. Of this total, around $23.75…
Fidelity Investments’ Cryptocurrency Arm Claims Ethereum (ETH) Is Undervalued Fidelity Digital Assets, the cryptocurrency-focused subsidiary of investment heavyweight Fidelity Investments, has asserted that Ethereum (ETH) is presently being undervalued. In a recently released report titled ‘Ethereum Investment Thesis,’ the firm points out that with Ethereum’s current supply of approximately 120 million and annualized network fees exceeding $6.8 billion, the estimated price of ETH using a discounted cash flow model stands at approximately $2,090, which is approximately 28% higher than its current market price. The asset manager underscores that Ethereum’s valuation closely aligns with network activity, particularly the fees it generates.…
Binance CEO Changpeng ‘CZ’ Zhao Addresses Recent Rumors, Asserts Strong Financials and Employee Stability In response to recent rumors, Binance’s co-founder and CEO, Changpeng ‘CZ’ Zhao, has emphasized the company’s sound financial position and the retention of its employees, despite recent market volatility. In a Twitter post dated September 7, CZ attributed the prevailing atmosphere of fear, uncertainty, and doubt (FUD) to negative news, rumors, banking concerns, legal actions, the closure of fiat gateways, product scaling back, and employee turnover. He took the opportunity to provide further clarity regarding Binance’s current financial status: “Just to be clear, what we absolutely…