Author: hotcrypto
The past seven days didn’t turn out very well for the broader cryptocurrency market as the total capitalization decreased by roughly $60 billion. It was a week filled with ups and downs, so let’s unpack. This time seven days ago, Bitcoin was trading slightly below $21K, but things quickly took a turn for the worse. The cryptocurrency decreased to $20K and eventually fall below this critical level on Monday, August 29th. It was then the back and forth started. On Tuesday, BTC was trading at $20,500 before it also crashed to $19,600. On Wednesday, the price once again shot up…
SafeMoon is caught up in further controversy as YouTuber Stephen Findeisen, AKA Coffeezilla makes pump and dump allegations against its former chief marketing officer.Specifically, Findeisen calls out Ben Phillips, a UK-based influencer previously involved with the project in a marketing capacity.Findeisen has carved out a niche for himself in blowing the lid on scammers and fraudsters. Many of his recent investigations have tackled cryptocurrency scams, and his latest upload takes aim at Phillips.But what exactly are the allegations against Phillips?It goes from bad to worse for SafeMoonBen Phillips is a Welsh YouTuber known for creating prank content. Previously, Phillips had…
The search for cryptos that could 10x is always on. Indeed, for investors in this sector up to last year, 10x returns seemed all but a foregone conclusion for most projects. The rate at which blockchain technology and the tokens that support it grew suggested the runway for growth was unlimited. 2022 has been less kind to crypto investors. The start of monetary policy tightening, combined with recession worries, has led valuations lower. Whether we’re talking about stocks or crypto, any risk-on trade has been hit hard. Indeed, investors have largely gravitated toward defensive risk-off trades while uncertainty remains. Of…
y00ts, originally called Duppies is currently one of the most hyped mints in Solana. There will be 15,000 y00ts in circulation, and the price for the mint is $375 DUST, equivalent to $1,061.25 according to the current DUST price. y00ts derives from the creators of DeGods, one of the biggest NFT projects in Solana at the moment. To get Whitelisted, you either need to apply for a scholarship or own a Deadgod. The current floor price for Deadgods is 550 $SOL.y00ts is an upcoming collection in the Solana blockchain created by the creators of DeGods. DeGods is one of the more successful Solana…
Nonfarm payrolls rose by 315,000 jobs in August, down from the July increase of 526,000 jobs. The report was just below the Dow Jones estimate of 318,000 jobs and the slowest monthly gain since April 2021. The S&P 500 rose in response to the report, but later erased its gains, indicating that bears continue to sell on rallies.That may be because the U.S. dollar index (DXY), which had retreated from its Sept.1 20-year high, recovered part of its losses. The bears will have to pull the DXY lower to boost the prices of stocks and thcryptocurrency markets as both are…
KyberSwap, a decentralized exchange built to allow users to swap tokens between blockchains, confirmed Thursday that it had suffered an exploit to its front-end web code. Attackers were able to steal approximately $265,000 in cryptocurrency funds before the Kyber team were able to shut down the attack. Decentralized finance, or DeFi, refers to peer-to-peer financial services executed using blockchain technology, using it people can do most things that banks can do such as transfer funds, earn interest, borrow, trade assets and similar, all without the need for a centralized authority. KyberSwap allows for the exchange of cryptocurrency assets between blockchains…
Polygon was a notable mover on Friday as the token surged to a two-week high, while volatility in crypto markets eased. Traders have been tense this week ahead of the payrolls report, however following the release of the data, bulls returned to action. Chainlink also rose, hitting a ten-day high in the process. Polygon (MATIC) Polygon (MATIC) was one of Friday’s big gainers, as the token rallied by as much as 7% in today’s session. Following a low of $0.8342 on Thursday, MATIC/USD moved closer to $1.00 today, as prices surged to a peak of $0.9083. This sees the token…
The crypto winter effect has clouded the better part of the 2022 crypto trading year. As many would boastfully say on Reddit crypto forums, it “separated boys from men.” The belief is that men constantly plan to upgrade their portfolios, implementing necessary risk management strategies. In contrast, the boys count what’s left of their REKT and exit the market. Whether you’re amongst the men, maintaining your position as an active crypto market player, or a boy trying to become a man, knowing the cryptocurrencies with positive prospects in the coming months can help you make a profitable financial decision. This…
Ethereum was back above $1,600 on Friday, as markets reacted to the latest nonfarm payrolls (NFP) report. Figures released today showed that 315,000 jobs were added to the U.S. economy, better than the 300,000 expected. Bitcoin was marginally higher, as the token continued to trade above $20,000. Bitcoin Bitcoin (BTC) was trading above $20,000 on Friday, as markets reacted to the latest monthly jobs report. Last month’s payrolls came in at 315,000, which is higher than the consensus estimate of 300,000. Following the report, BTC/USD surged to an intraday high of $20,247.13, which comes less than a day after hitting…
The inventor of Ethereum, Vitalik Buterin, gave an interview talking about the current state of the crypto market, its dynamics, and the impact of the crypto winter on developers. The second crypto by market cap has displayed a week with low volatility as it prepares to complete its migration to a Proof-of-Stake consensus with “The Merge”. At the time of writing, Ethereum (ETH) trades at $1,610 and records a 3% profit in the last 24 hours and a 5% loss over the past week. Large cryptocurrencies have been moving sideways and might continue to see low volatility over the weekend.…