Author: hotcrypto
Projects continue to race against one another, all looking to be the top performing crypto of the year. As the digital assets space grows in maturity and increases its value proposition to the broader realm of traditional finance, investors are looking to smaller cap crypto projects with the potential to generate insane returns. The big players like Bitcoin and Ethereum now possess enormous market caps, and the amount of capital required to move these assets significantly is immense. Gnox (GNOX), Cardano (ADA), and VeChain (VET) are three brilliant crypto projects, and these tokens are highly likely to outperform Ethereum (ETH)…
From a bearish perspective, there’s a fair probability that the crypto market entered a descending channel (or wedge) on Aug. 15 after it failed to break above the $1.2 trillion total market capitalization resistance. Even if the pattern isn’t yet clearly distinguishable, the last couple of weeks have not been positive.Total crypto market cap, USD billion. Source: TradingViewFor example, the $940 billion total market cap seen on Aug. 29 was the lowest in 43 days. The worsening conditions have been accompanied by a steep correction in traditional markets, and the tech-heavy Nasdaq Composite Index has declined by 12% since Aug.…
Ether Has Rallied 5.4% Since Monday Despite moving in unison for much of the year, Ether has outperformed major U.S. stock indices this week.The S&P 500 and the tech-heavy Nasdaq Composite were on track for five consecutive days of losses before rallying late Thursday, dropping 1.4% and 1.7% respectively since they opened on Monday.Several major cryptocurrencies, meanwhile, have eked out gains over the week.Ether has rallied 5.4% since Monday, according to data from The Defiant Terminal. Cardano is up 1.1%, and Polkadot is up 0.4%.Ether vs S&P 500. Source: TradingViewBitcoin, Binance and Ripple have also fared better than the stock…
A glimpse of the NFT market showed that neither Ethereum [ETH] nor Solana [SOL] was the best performing chain over the last 24 hours. Surprisingly, Binance Coin [BNB] took center stage out of the top three, according to CryptoSlam. Ordinarily, the NFT community would not expect BNB to overtake ETH or SOL in sales volume. Of course, that was the case. However, traders’ participation, collections interest, and transactions seemed to have shifted to BNB rather than the other two. The greens only? According to the NFT data platform, BNB NFT sales volume surged 57.52%. This increase was enough to get…
Bitcoin traded flat, while Ethereum rose Thursday evening as the global cryptocurrency market cap inched up 0.3% to $983.9 billion.Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin BTC/USD -0.1% -6.5% $20,086.08 Ethereum ETH/USD 1.2% -6.1% $1,579.66 Dogecoin DOGE/USD 1.1% -9.2% $0.06 Top 24-Hour Gainers (Data via CoinMarketCap) Cryptocurrency 24-Hour % Change (+/-) Price TerraClassicUSD (USTC) +21.8% $0.04 EOS (EOS) +9.9% $1.52 Balancer (BAL) +9.7% $7.81 See Also: Best Crypto Debit CardsWhy It Matters: The second-largest coin was buoyant amid the buzz surrounding its move to a proof-of-stake mechanism. The apex coin failed to make any significant moves.Michaël van de…
A proposal by the largest private bank in Brazil, Itaú Unibanco, to build a decentralized finance (DeFi) liquidity pool has been selected to join the Banco Central do Brasil’s (BCB) Laboratory of Financial and Technological Innovations (LIFT) Challenge initiative. The proposed platform will deploy blockchain technology and smart contracts in asset custody, currency exchange, and alternative investment financial services. The platform will operate similar to liquidity pools on DeFi protocols in the digital assets market, but strictly with tokens that emulate stablecoins—digital currencies that are pegged 1:1 with fiat currencies—the BCB said in a notice. The LIFT initiative also accepted seven other…
The use of blockchain has gained wide acceptance in the coin market. Its pivotal role in enabling decentralization in the cryptocurrency system has made it indispensable. There are types of blockchains on which cryptocurrencies are built. However, HUH Exchange (HUH), Ethereum (ETH), and Chainlink (LINK) might be the top blockchains for quality smart contracts. Although HUH exchange (HUH) is about to launch, the blockchain will be an EVM-compatible base layer blockchain. This means that crypto users will be able to port any project or crypto asset with ease. It will also allow smart contracts and dApps to run on it.…
A widely followed crypto trader is expressing bearish sentiment toward one Ethereum-based altcoin while revealing his forecast for Bitcoin (BTC) and Cardano (ADA). The pseudonymous crypto analyst known as Altcoin Sherpa tells his 182,400 Twitter followers that the native token of Lido DAO (LDO), the decentralized autonomous organization (DAO) behind the Lido Ethereum staking protocol, could fall by about 64% from its current price. “LDO: Wouldn’t long this thing until more destruction, maybe $0.75? There will be bounces along the way though.” Source: Altcoin Sherpa/TwitterLDO is trading at $2.07 at the time of writing. Altcoin Sherpa then says that the…
There’s no denying the popularity of crypto casinos — they are simply better than traditional online casinos. Much better. The best crypto casinos offer near-instant payouts and bigger match bonuses, and they even allow you to play and deposit without sharing your banking information. However, choosing Bitcoin casino sites on your own is basically playing Minesweeper with your money. To help you avoid the landmines and get the biggest bang for your buck, we’ve created a list of the best Bitcoin casino sites, with Bitstarz being our personal favorite. That said, we have 16 more options for you to choose…
1. Bitcoin Daily Active Addresses Our thesis: cryptocurrencies are like companies and active addresses are like customers, similar to active users of Facebook or active subscribers of Netflix. We can measure the price (black line) relative to the active addresses (green line) to see if things are currently underpriced or overpriced. (courtesy IntoTheBlock)Investor takeaway: While BTC has incurred a slight jump from its recent decline following Jerome Powell’s speech, the asset is still selling at bargain basement prices (70% less than its November 2021 high). Our thesis: buying low (now) and selling high (after market recovery) is still the stronger…