Apecoin Lost Around $2.5 Billion in Its Market Cap in May as Fear About Fading Investor Appetite Emerges

ApeCoin, one of the fastest rising coins in the crypto space, was one of the cryptocurrencies that was heavily impacted by the crypto disaster that rocked the market in May. Although the coin’s price showed robust performance in these turbulent market conditions, its market cap was affected. The coin now trades at $4.25 with a 4.1% increase in the last seven days, selling below its new swing high of $4.35. Data from Coingecko on Thursday showed that ApeCoin is among the top 50 crypto assets by market capitalization as the…

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Aave price risks a 25% plunge as a classic bearish reversal pattern emerges

Technical analysis suggests that a recent uptrend in the price of Aave (AAVE) is showing signs of exhaustion based on early development of a classic bearish reversal pattern. Is AAVE headed to $70? Dubbed a “rising wedge,” the pattern surfaces when the price rises inside a range defined by two ascending, converging trendlines. As it happens, the trading volume declines, pointing to a lack of conviction among traders when additional buying is needed for continued upside momentum. Therefore, falling wedges typically result in a bearish breakout where the price breaks…

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Obscure Omicron token spikes 900% after new variant emerges

A relatively obscure cryptocurrency called Omicron (OMIC) has surged to an all-time high today as a new fast-spreading COVID-19 variant got christened with the same name. Omicron’s OMIC token hit an all-time high of $689 a couple of hours ago during the Monday morning Asian trading session. The move has added another 200% gains on the day for the token and a whopping 945% since Saturday when it was trading around $65. OMIC/USD 7days – Coingecko.com The token shares its name with a new Covid-19 variant that was first discovered…

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Bitcoin drops below $54K, stocks sell-off after new COVID-19 variant emerges

Crypto exchange Deribit is the absolute leader in the Bitcoin (BTC) options markets, and on Nov. 24, the 25% delta skew indicator signaled that sentiment among pro traders was becoming “more bearish overall.” We’ve seen 25-Delta put skew moved from around 0% to almost 10-15% pending time to expiry since beginning of Nov implying a more bearish overall sentiment. Premiums for downward protection are getting more expensive.In the short term, this expiry has a Max pain of $58k. https://t.co/jhpT1riX3g — Deribit (@DeribitExchange) November 24, 2021 Bitcoin price appears to following…

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DeFi hub Karura emerges as first Kusama parachain slot auction winner

Karura network has emerged as the winner of the maiden Kusama parachain slot auction. According to an announcement issued on Tuesday, Karura pulled support from over 15,000 entities who staked Kusama (KSM) tokens in favor of adding the decentralized finance hub as the first Kusama parachain. In total, Karura locked up over 500,000 KSM currently valued at $90 million based on the Kusama market price as of the time of writing. Earlier in June, United States crypto trading platform Kraken launched a parachain auction platform for users to support bids…

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Grayscale listing ‘bump’ emerges as Livepeer (LPT) soars to a record high

Every bull market is marked by a particular trend which which catalyzes and sustains the uptrend in asset prices. In late 2020 Ether (ETH) led the way as the network saw a surge in activity due to the growing popularity of the decentralized finance (DeFi) sector and the expectation that the altcoin would rally into the Eth2 launch.  As further signs of institutional money entering the cryptocurrency sector increase, the ‘Grayscale bump’ has emerged as the newest ‘trend’ which may trigger rallies in assets that are listed for addition to Grayscale’s…

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Private finance emerges as crypto’s next major growth catalyst

Long gone are cryptocurrency’s days as an obscure hub for experimental ventures in cryptography. 2020 marked a seminal year for the space, with cryptocurrencies taking major strides into the mainstream as governments, supranational organizations and corporate entities alike made significant entrances into an industry they collectively call the “digital asset space.”  As per centralized authorities’ choice, cryptography and its primary feature, privacy, have been relegated from the front-and-center role they once played as cryptocurrency’s main attractions. In their place, a breadth of ever-more enticing DeFi applications has taken the limelight…

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Perpetual Protocol emerges as sixth-largest DEX after just one month

Perpetual Protocol, a DeFi project offering decentralized perpetual contracts using the layer-two Ethereum scaling solution xDai, has emerged as the sixth-largest DEX by weekly trade volume after operating for only one month. Based on data from Dune Analytics shared by Perpetual Protocol, the DEX’s weekly trade volume of more than $299 million would rank the project above the likes of Synthetix, dYdX, and Kyber, and below Balancer. The milestone was shared in a blog post celebrating the project’s first month of operation — a period in which the DEX drove…

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Bitcoin Cash Node emerges as victor of hard fork

The Bitcoin Cash network just went through yet another fork after originally being created as a hard fork from the Bitcoin (BTC) blockchain in August 2017. The hard fork on Nov. 15 split the Bitcoin Cash network into two new blockchains, Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN). The main difference between the two is the 8% tax on gross rewards that miners must pay to BCH ABC’s development team. Among the two networks, Bitcoin Cash ABC received very little hash power, while Bitcoin Cash Node obtained the…

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Ripple (XRP) At Risk of Sharp Decline, As Double Top Pattern Emerges

Ripple spiked higher and retested the key $0.2550 resistance area against the US Dollar. XRP price failed to break $0.2550 and it is now showing bearish signs below $0.2450. Ripple failed to clear the $0.2550 resistance level and likely formed a double top against the US dollar. The price is now trading well below the $0.2450 support and the 100 simple moving average (4-hours). There is a key connecting bearish trend line forming with resistance near $0.2465 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The…

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