Here’s why IOST, Horizen (ZEN) and Avalanche (AVAX) surged as Bitcoin crashed

Bitcoin’s (BTC) recent plunge could have been caused due to profit-booking by institutional investors, according to a report by crypto fund manager CoinShares. The report noted a sharp drop in institutional inflows during the first week of the new year and weekly outflows from several crypto investment products. Crypto market data daily view. Source: Coin360 While the recent 28% decline may have scared some new investors, Bitcoin HODLers were likely unfazed as they’ve encountered six larger corrections during Bitcoin’s massive bull run in 2017. Therefore, describing a 20% fall as a…

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When altseason? Here’s why Bitcoin is leaving major altcoins like Ethereum behind

Ether (ETH), the native cryptocurrency of the Ethereum blockchain, has been lagging behind Bitcoin (BTC). Historically, when BTC surges, altcoins tend to rally with larger upside price movements. This time, Bitcoin has been clearly outperforming the altcoin market, particularly in December. BTC market cap dominance has recently risen to a one-year high of around 70%, largely due to the big sell-off in XRP in the past week.  BTC/USD vs. ETH/BTC (yellow), LTC/BTC (orange), XRP/BTC (blue) 1-day candle chart (Bitstamp). Source: Tradingview The difference in the price discovery of Bitcoin The difference…

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Here’s why pro traders barely flinched at today’s 8% Ethereum price drop

On Dec. 17 , Ether (ETH) price rallied to $677, its highest level since May 2018, and it seems the top altcoin’s price was driven by Bitcoin’s (BTC) swift move above $21,000. It’s also possible that the CME’s ETH futures launch announcement also played its part. Solid fundamentals and positive newsflow also seem to be helping Ether to hold above $640 for the past few days, and despite today’s dump, these fundamentals remain. Eth2 staking surpassed $1 billion in total value locked, and this shows that large players are committed…

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Here’s 5 key Bitcoin factors to watch as new investors buy BTC in 2021

The end of 2020 has been lighting up crypto-centric subreddits and feeds of Bitcoin hodlers as the appetite for the digital bullion reaches an all-time high. The explosion has been accelerated via the adoption of the network by PayPal, along with the long-sought out stamp of approval from respected figures like Michael Saylor, Jack Dorsey, and Paul Tudor Jones. The corresponding price appreciation and mainstream awareness from the likes of Maisie Williams and the most recent institutional buy-in from MassMutual continue to buoy the price and sentiment surrounding Bitcoin (BTC).…

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Here’s why Ethereum bulls don’t care about Friday’s $40M ETH options expiry

In the last few days Bitcoin (BTC) price rallied within a hair of the $14,000 level and Ether (ETH) followed with a similarly strong performance but the altcoin failed to hold above the $400 physiological support.  Bitcoin and Ethereum year-to-date performance. Source: Digital Assets Data Although Ether price is below $400, data show traders are not worried about Friday’s options expiry. Investor optimism has been kept intact despite the recent decentralized finance (DeFi) lackluster performances. $80 million worth of Ether options are set to expire this Friday, but there has…

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Wish you bought Litecoin and other top alts at mid-2017 prices? Here’s your second chance

Several crypto assets are currently priced near their mid-2017 valuations, potentially offering a second chance to latecomers. One major caveat, however — these assets may never reach their highs again, or even rise at all from here. Buyers beware and do your own research.  Litecoin (LTC) sat at a price of around $33 on June 11, 2017, according to a historical snapshot from CoinMarketCap. Its current press time price trades slightly higher, at around $46 — a dramatic difference from its all-time highs near $365.  Ethereum (ETH) held a price of…

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After 16% drop, traders target $250 Ethereum price — Here’s 3 reasons why

The crypto market saw a significant correction today and Ether (ETH) price did not escape the carnage. In the last 24 hours, the top altcoin recorded a 12% drop as the price fell to $331. In the same period, Bitcoin (BTC) price slipped by 6.3% to find support near $10,300. Ether’s decline comes after a head and shoulders pattern became clear on the daily timeframe and the price slid into a shart downtrend over the past four day.  ETH/USD 1-week chart. Source: TradingView.com Three reasons are likely behind Ether’s poor…

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Here’s Where the Earliest ETH Ever Mined Ended Up 5 Years Later

Ethereum, a household name in the crypto industry, fired up its network on July 30, 2015, but what happened to the first ETH coin ever mined all those years ago? Blockchain analytics and Anti-Money Laundering company Coinfirm found out.  “Another great example of the many benefits of blockchains such as Ethereum compared to the traditional space, we can see and understand the literal creation of value and how it moves,” Coinfirm co-founder and CMO Grant Blaisdell told Cointelegraph, adding, “In a time where fiat printing by central banks and other…

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Bitcoin Price Will Now Never Officially go to Zero — Here’s Why

Bitcoin (BTC) can crash hard, but not so hard that it ends up costing $0 — because one man is going to buy all of it. In tweets on July 9, entrepreneur and outspoken Bitcoin bull Alistair Milne revealed that he had placed an order for 18.52 million BTC ($174 billion) — more than the current supply — on exchange Bitfinex. Milne: I’m buying all the Bitcoin at 1 cent In what appears to be more a tongue-in-cheek gesture than concern that Bitcoin is in for a major fall, Milne…

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The MakerDAO Auction Is Happening, Here’s What to Expect

The MakerDAO (MKR) community has locked in an auction to cover a multi-million dollar hole in DAI collateral after the sudden Ethereum (ETH) price crash on March 12. Scheduled for 10:28 AM EST on March 19, the system will auction newly minted MKR in exchange for DAI. The proceeds from the sale will be used to recapitalize the system and compensate the losses suffered by the borrowers who saw their Ethereum collateral auctioned off for zero DAI. As the stablecoin powers many decentralized finance (DeFi) applications, the stability of Maker…

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