AAVE has emerged as one of the most profitable cryptocurrencies entering the new week as Bitcoin’s bullish momentum pauses after a weekend sell-off. The second-largest decentralized finance token surged 11.36 percent, or $22, to an intraday high of $522.74, confirming a bullish reversal following its 28 percent drop from its record high near $547. AAVE’s…
Bitcoin exploded to a new record high on Monday after Tesla revealed that it had purchased around $1.5 billion worth of the cryptocurrency in January. The flagship cryptocurrency reached $44,900 ahead of the New York opening bell, pointing to extended gains as traders rejoiced the entry of the Wall Street’s fifth-largest firm into the cryptocurrency…
Elon Musk’s Tesla invested $1.5 billion in Bitcoin, according to its latest filing with the US Securities and Exchange Commission. The American vehicle giant reported that it changed its investment policies in January 2021 to “further diversify and maximize returns” on the cash it did not require for operational liquidity. It later sought approval from…
A recent downside correction in the Bitcoin market has done little to offset its long-term bullish bias, indicates Robbie Liu. The OKEx investment analyst listed a flurry of trading data readings that showed the cryptocurrency facing limited downside risks. He noted that the last week’s “Musk rally” of more than $6,000 helped the bullish sentiment…
ADA, a cryptocurrency backed by blockchain network Cardano, reached its best levels in the previous three years amid a major capital influx from Bitcoin to the altcoin market. The ADA/USD exchange rate hit $0.51 after rising more than 15 percent during the Asian session Friday. The pair’s gains appeared as a part of a broader…
Ethereum achieved a new milestone this Thursday as its price almost touched $1,700 for the first time in history. The ETH/USD exchange rate hit $1,699 on the Coinbase exchange after rallying 29.79 percent this week. Traders flocked into the Ethereum market in the wake of its futures contracts’ launch on the Chicago Mercantile Exchange (CME)…
Bitcoin slipped heading into the European session Thursday as traders booked profits from its recent price rally. The benchmark cryptocurrency briefly crossed over $38,000, a wave high it breached last Friday after gaining open endorsement from Tesla founder Elon Musk. The move upside also appeared as a broader recovery trend that saw the Bitcoin price…
Cryptocurrency exchanges experienced a dramatic rise in stablecoin deposits in the previous 24 hours, instilling hopes that traders will use the dollar-pegged tokens to purchase Bitcoin. Data fetched by blockchain analytics platform, CryptoQuant, showed exchanges’ stablecoins reserves hitting a record high of 5.47 billion after adding $600 million in a day. The spike apprehensively coincided…
Cryptocurrencies rallied Wednesday, led by gains in the Bitcoin and the Ethereum markets as traders pinned hopes on additional stimulus packages in the United States. The cost to purchase one Bitcoin shot past $36,000 while Ethereum’s native token Ether notched a new record high at $1,574. Other large-cap tokens, including Polkadot’s DOT, Litecoin’s LTC, and…
Ethereum rose on Tuesday, partially because of its positive correlation with Bitcoin, the top cryptocurrency that also notched gains, and partially because the Chicago Mercantile Exchange will offer Ethereum Futures effectively from February 8, 2021. Trades flocked into the second-largest cryptocurrency during the early European session, pushing its prices against the US dollar up by…