Market Analysis

While it seems OpenSea is keeping pace with January’s total volume of $5 billion by generating over $1.3 billion in total volume the last 7 days, the number of active users has decreased by more than 30% according to data from Dune Analytics. Are we beginning to see a lull in trader activity as a

Bitcoin (BTC) hovered around $44,000 on Feb. 9 as a modest uptick towards the Wall Street open provided relief for support levels.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Melt-up or breakdown? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD acting in the range defined in recent days without significant downside pressure. Circling $44,000, traders

When analyzing Ether’s (ETH) price chart, one could conclude that the 3-month long bearish trend has been broken for a few reasons. The current $3,100 price range represents a 43% recovery in 15 days and, more importantly, the descending channel resistance was ruptured on Feb. 7.  Should Ether bulls start celebrating and calling for $4,000

Avalanche (AVAX) recovery extended into its third week, primarily in the wake of similar upside retracement across the top crypto assets. On Thursday, AVAX’s price rallied by nearly 16% to reach $96.50, its best level since Jan. 14, 2022. The massive intraday move came as a part of a recovery that started Jan. 22, after

Ripple (XRP) price rose by nearly 30% in less than a week amid positive sentiment around the court case, in which the U.S. Securities and Exchange Commission (SEC) claims that Ripple sold XRP as illegal securities. SEC vs. Ripple Judge Analisa Torres has granted Ripple permission to respond to the SEC’s Memorandum of Law in

Bitcoin (BTC) is in a fighting mood this week as the weekly close buoys bulls’ cause and wipes out several weeks of downside — can it continue higher? After challenging $42,000 over the weekend, there was a cautious sense of optimism as higher levels remained in play. Sunday saw a fresh push, with overnight progress

As NFT projects prepare to embark into the Metaverse, it seems they are pivoting from their static imagery to integrating mechanics that provide utility. Notably, Bored Ape Yacht Club has amassed over $1 billion in total volume and announced a mobile play-and-earn game, while fellow primate projects, CyberKongz and SmolBrains continue to announce and integrate

Bitcoin (BTC) zoned in on a multi-week high for the weekly close on Feb. 6 as a calm weekend helped fragile sentiment. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin should flip $41,000 to support  Data from Cointelegraph Markets Pro and TradingView followed a mercifully non-volatile weekend for BTC/USD, which continued to test $42,000 resistance while

In the past year, we’ve seen the crypto economy undergo exponential expansion as heaps of money poured into various cryptocurrencies, decentralized finance (DeFi), nonfungible tokens (NFT), crypto indices, insurance products and decentralized options markets.  The total value locked (TVL) in the DeFi sector across all chains has grown from $18 billion at the beginning of

Ethereum’s native token Ether (ETH) looks poised to hit $3,500 in the coming sessions as it reclaimed a historically strong support level on Feb. 5. Ethereum price back above key trendline ETH price rising above its 50-week exponential moving average (50-week EMA; the red wave in the chart below) means the price also inched above

The influence of blockchain technology on the ongoing digital revolution cannot be overstated as the rise of the Metaverse and the integration of virtual reality is transforming the way humans interact on a global scale.  One project that is beginning to gain traction in its effort to bridge the old world with the new is

Solana (SOL) became one of the worst performers among the top cryptocurrencies on Feb. 3 as traders assessed its links with the second-biggest hack to date. $325M worth of wETH gone SOL price dropped by 5.50% to below $96.50 as Wormhole, a bridge between Solana and Ethereum blockchains, reportedly lost $325 million worth of Wrapped

Nonfungible tokens (NFTs) continue to be one of the hottest sectors of the cryptocurrency market in 2022 despite the overall multi-month weakness seen in Bitcoin (BTC) and other large-cap crypto assets. One project that has benefited from the persistent bullishness in the NFT space is ImmutableX (IMX), a layer-2 scaling solution for NFTs on the

Canada-based Purpose Bitcoin ETF attracted over $38 million worth of Bitcoin (BTC) this Tuesday, its third-largest daily inflow to date. According to data provided by Glassnode, investors poured about 1,054 BTC into the fund, marginally lower than the inflows recorded on Dec. 6 last year. However, the capital injection still came out to be almost

The Bitcoin (BTC) daily price chart seems to be making a steady recovery pattern, but some concerning indicators are coming from derivatives markets. At the moment, the futures and options markets are showing a lack of confidence from Bitcoin pro traders, but there’s a positive spin to the data. Bitcoin price at Coinbase, USD. Source:

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