Decentralized Applications (DApps) on the Ethereum network recorded over 1.2 million new users in 2019. Continuous growth of the ETH ecosystem is an essential fundamental factor for its long-term price trend.Report shows there is fast growth everywhere for EthereumThe main area of parabolic growth for Ethereum throughout the past year has been Decentralized Finance (DeFi).…
Whales on the world’s largest bitcoin margin trading platform BitMEX are selling large amounts of BTC. After the rejection at $9,200, investors are seemingly moving towards hedging their holdings to brace for a bigger pullback.According to a platform that reports unusually sizable sell orders on BitMEX, many whales sold millions of dollars worth bitcoin in…
Bitcoin is enjoying fresh gains at the start of 2020 as investors continue to speculate on its potential adoption against a series of geopolitical and macroeconomic letdowns.The benchmark cryptocurrency on Sunday surged beyond $9,000 for the first time in three months, up by 28.32 percent since the start of the year. The gains came as…
XRP has plunged by circa 11 percent after registering superficial gains in the past 30 days.The Ripple’s native cryptocurrency established an intraday low of $0.224 on Monday as traders preferred to exit their long position on small profits. So it appears, the downside move was more a natural bearish correction, especially after XRP’s monstrous price…
The Altcoin Index Perpetual Futures broke out of a major resistance level in the past week, which may indicate that due to the strong momentum in the crypto market, major altcoins are in a prime position to sustain their upward movement.$ALT perp:Breakout ✅Retest ✅Consolidation ✅Continuation ✅ pic.twitter.com/V3Q3Kv9fwy— The Crypto Monk ⛩ (@thecryptomonk) January 14, 2020After…
According of a research report from BitMEX, the largest cryptocurrency margin trading platform in the global market, the usage of the lightning network on bitcoin has surpassed expectations.More than 60,000 lightning network non-cooperative channel closures were recorded, and around 6,000 BTC were spent for closure transactions.The lightning network is a second-layer scaling solution that allows…
The correlation between gold and bitcoin has reached its highest levels since August 2016, according to a new study.Arcane Research, a cryptocurrency-focused data analysis firm, noted a steep direct proportionality between the two rival assets. In a report published on Friday, the firm mentioned that the correlation was “below zero just half a year ago”…
Bitcoin is showing first signs of a weakening upside momentum as traders adjust their sentiments near key resistance areas.The benchmark asset on Wednesday plunged by up to 3.15 percent in what appears to be a corrective action. The move downhill prompted it to establish an intraday low of $8,202.57 on Coinbase. It also escalated the…
Bitcoin could establish a new all-time high above the $20,000 level in 2020 as it hits crossroads with a bias-defining indicator.The benchmark cryptocurrency’s latest move uphill prompted it to retest its 20-weekly moving average on Wednesday. The technical indicator is conclusively accurate when it comes to defining bitcoin’s long-term trends. When the cryptocurrency breaks above…
XRP, the native cryptocurrency of multi-billion dollar fintech company Ripple and its blockchain platform, spiked by 10.5 percent on January 6. The sudden upsurge is likely to have been fueled by Binance Futures integration and strong technicals.Similar to platforms that existed in the crypto sector for many years like BitMEX, Binance Futures enable users to…