Yellen Echoes Stablecoin Warning Citing UST Crash
Bitcoin (BTC) appears to have stabilized around 2022 lows after sharply consolidating over the past week. The token is now trading just above the $30,000 level. A bulk of BTC’s decline was driven by concerns over rising inflation and interest rate hikes by the Federal Reserve- two factors that are expected to continue weighing on the market. BTC briefly dropped to as low as $29,000, before recovering back above $30,000. The level is now broadly expected to provide BTC with a...
There was a heavy sell-off in the crypto market in the past few days as Bitcoin shed value alongside global stock indices. TRON had been one of the few coins that had trended upward in the past week, but it fell beneath crucial support. ApeCoin and Decentraland could offer selling or shorting opportunities in the hours to come.
With the crypto market plummeting to 2022 lows, major whales appear to be heavily buying stablecoins and a few select tokens. While this has done little to support prices, given that selling is largely outpacing buying, whale transactions could help indicate which tokens are set for a quicker recovery. Some major cryptos also appear to have stabilized from recent losses, and are trading slightly above intraday lows. Data from Whalestats shows that Ethereum (ETH) whales bought ETH, USDC and USDT...
The world’s largest cryptocurrency Bitcoin (BTC) continues its downward fall at an unprecedented rate. As of press time, Bitcoin is down another 8% slipping under $31,000 for the first time since July 2021. On-chain data shows that Bitcoin whales have been depositing the BTC on the exchanges in massive numbers. As per data from CryptoQuant, the all-exchange inflows of Bitcoin have touched a 1-year high. Similarly, the spot exchange inflows have touched a two-year high. On-chain data from...
El Salvador President Nayib Bukele declared the country’s largest Bitcoin purchase to date in the middle of a terrible cryptocurrency market fall. He announced it in a tweet on Monday, saying, “El Salvador just bought the dip!” “Average price of $30,744 for 500 coins.”
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. The buyers finally increased their intensity by cooling off the sell-off situation and finding dependable grounds at the $28-zone over the last few days. As the correction pulled the alt to its multi-month lows, Axie Infinity (AXS) chalked out this course in a down-channel (white) over the last month. The immediate floor would now play a vital role in determining...
It appears that the Luna foundation is taking steps towards rectifying the volatility issues that its digital tokens are facing. A wallet address that market players have traced to be Luna’s, has sold $1.4 billion worth of Bitcoin (BTC). Market observers are speculating that the move is sketchier than it looks.
Bitcoin Foundation chairman and billionaire investor Brock Pierce says that the price of Bitcoin will either go to $1 million or fall to zero. During a recent interview with Fox Business on May 6, at a time when Bitcoin was trading around $36,157, Pierce predicted that Bitcoin will...