BAT price hits new high after 30% daily rally as Basic Attention Token bucks crypto downtrend

Basic Attention Token (BAT) rallied to a new record high on Nov. 26 even as global markets plunged in tandem on fears about a highly mutated variant of Covid19 detected in South Africa. BAT’s price surged over 30% on Friday to reach $1.88 for the first time in history, with its market capitalization rising to $2.74 billion. Its climb appeared in contrast to the cryptocurrency market that lost up to nearly $283 billion in the same period. BAT market capitalization. Source: CoinMarketCap BAT snubs crypto crash Bitcoin (BTC), the world’s largest…

Institutional exposure to altcoin products retests all-time high

Institutional demand for altcoin exposure has surged to record levels, with the altcoin market share now representing a record 35% of capital locked in crypto investment products. According to CoinShares’ Sept. 7 Digital Asset Fund Flows Weekly report, nearly 40% of the past week’s inflows to digital asset investment products were allocated t instruments tracking altcoins. While $97.8 million was invested into crypto investment products combined between Aug. 30 and Sept. 3 to mark the sector’s third consecutive week of inflows, $38.9 million was invested into altcoin products. This past…

Ethereum price spikes to a 3-month high above $4,000

Ether (ETH) returned to $4,000 on Sept. 3 for the first time since May as a solid week of gains culminated in a major price milestone. Against month-to-date gains of $600, the pair reclaimed the historic level it had lost in the dramatic trend reversal that rocked the cryptocurrency market roughly three months ago. In so doing, Ether broke out of its three-month trading zone, with $4,025 just $350 away from all-time highs. ETH/USD 1-day candle chart (Bitstamp). Source: TradingView In terms of weekly performance, Ether took third place out…

Solana extends rally with another new high — Why is SOL price up by 70% in one week?

Solana (SOL) started Sep. 3 at a new record high as investors continued to bet positively on its success in the decentralized finance (DeFi) and nonfungible tokens (NFT) sector. The SOL/USD exchange rate reached $146.28 for the first time in history, following a circa 35% month-to-date rally. The huge upside move lifted the pair’s returns for the year above 7,500%, taking Solana’s market capitalization over $41 billion to make it the seventh most valuable project in the cryptocurrency space. Solana’s run-up to record highs also brought overvaluation risks in focus,…

NFT projects and high yield opportunities back Zilliqa’s strong rebound

One of the most important factors in the long-term success of a blockchain platform is having an active community of supporters and developers that work to showcase the capabilities of the network by creating new products and interacting with projects on the protocol.  Zilliqa (ZIL) is one project that saw its price surge throughout August as developers built out its ecosystem and made improvements to the protocol. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.05 on July 20, the price of ZIL proceeded…

3 reasons why Polkadot could be the next altcoin to hit a new all-time high

Layer-1 smart contract platforms increased their market share throughout August after the Ethereum network London hard fork did little to solve the major issues of high transaction fees and network congestion.  One top-10 protocol that has been gaining momentum, but has yet to experience a significant price breakout to new highs like some of its competitors is Polkadot (DOT), a multichain protocol focused on facilitating the creation of cross-chain bridges between separate blockchain networks. Data from Cointelegraph Markets Pro and TradingView shows that after bottoming out at $10.36 on July 20,…

Solana hits record high with SOL price up over 218% in six weeks — What’s behind the rally?

Solana (SOL) prices printed another milestone of nearly $85 high on Aug. 27 as traders assessed a flurry of optimistic fundamentals, including Solana’s potential foray into Wall Street. On Aug. 24, digital asset management firm Osprey Funds registered a first-of-its-kind Solana fund with the U.S. Securities and Exchange Commission (SEC). In doing so, the New York firm hinted at giving institutional exposure to SOL markets as the token’s value surged by more than 4,300% in 2021.  A day later, real-time data feeder Pyth Network announced that it is going live…

‘Uber dovish’ Fed sparks S&P 500 all-time high as analyst calls new Bitcoin impulse move

Bitcoin (BTC) gained almost $1,500 in under an hour on Aug. 26 after an “uber dovish” speech by Federal Reserve Chair, Jerome Powell. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price action charges upwards Speaking at the virtual Jackson Hole annual symposium, Powell hinted that the Fed would begin to reduce its asset purchases in place since the start of the Coronavirus pandemic. A long-awaited signal, the move, referred to as “tapering,” may come this year, but Powell did not give a firm deadline for it to begin. “Even…

Why Breaking $49K Is Important For Bitcoin To See Another All-Time High

Bitcoin has once again dipped back down below its $47K resistance point. This time, the price of the digital asset looks to have turned its attention downwards. While this downward correction continues, it is important to know where this correction might lead. Price dips are not a novel concept in bull markets. In fact, price dips are often expected following a rally in the price of any digital asset. Related Reading | Why An 18% Drop In Bitcoin Could Still Be Bullish This drop in price is usually the market taking…

CoinDCX exchange joins ad regulator following Delhi high court notice

Mumbai-based crypto exchange CoinDCX has reportedly joined the Advertising Standards Council of India (ASCI). In what seems like a response to Delhi Hight Court’s notice regarding ad disclaimers from crypto exchanges, CoinDCX intends to use this partnership to improve advertising transparency and stay off the radar of the Indian regulators. ASCI is a non-governmental self-regulatory organization that claims to favor consumer interests and protection. On Aug.10, CoinDCX became the first crypto business in India to reach unicorn status. Citing the partnership with ASCI, CoinDCX CEO and co-founder Sumit Gupta envisions…