Polygon Price Rises by 60% In Four Days After Massive Matic Accumulation

After weeks of bearish run, Polygon (MATIC) witnessed one of the sharpest rebounds in the cryptocurrency market this week. MATIC’S price notably rose to $0.50 on June 23, four days after the coin hit its lowest level since April 2021. This rapid gain of about 60% is a performance that beat the resurgence of even Bitcoin (BTC) and Ethereum (ETH) in the same timeframe. Although MATIC is still far from its all-time high recorded value of $2.92 in December 2021, it is a massive improvement in a period where the…

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Bitcoin price rises to $20.7K as Fed’s Powell says more rate hikes ‘appropriate’

Bitcoin (BTC) checked losses while United States equities drifted down on June 22 as the Federal Reserve kept quiet on monetary policy. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Powell keeps quiet on Fed moves Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $20,500 at the June 22 Wall Street open. The pair had wicked below the $20,000 mark overnight before recovering, still down from the previous day’s $21,700 highs. Markets braced for last-minute surprises from testimony to Congress by Fed Chair Jerome Powell on the day, this…

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Celsius token CEL rises 300% in one week amid a GameStop-like ‘short squeeze’ event

The price of CEL, the native token of Celsius Network, has almost quadrupled since June 19 in what appears to be a frenzy stirred up by day traders. CEL price short squeeze CEL’s price rose from $0.67 on June 19 to $1.59 on June 21, a 180% spike compared to the crypto market’s 12.37% rise in the same period. Notably, the rally started after PlanC, an independent market analyst, announced a $20 million bounty for anyone who could prove that the Celsius Network suffered a coordinated attack at the hands…

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Ethereum rises vs. Bitcoin despite crypto market rout — will ETH/BTC gain 50% by June?

Ethereum’s native token Ether (ETH) has grown stronger against its rival for the top position — Bitcoin (BTC) — despite an ongoing crypto market rout. But can the ETH/BTC pair continue to rally in the coming months? Let’s look at the charts. Ethereum pares YTD losses vs. Bitcoin  ETH/BTC gained 5.5% between the May 9 low of 0.0720 and the May 10 high of 0.0759. ETH also rebounded by almost 9.75% against the U.S. dollar, and Bitcoin underwent a similar upside retracement in the same period. ETH/BTC daily price chart. Source: TradingView…

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Nasdaq has dotcom crash ‘deja vu’ says trader as Bitcoin correlation rises

Bitcoin (BTC) and its stock market correlation are under fresh scrutiny amid a warning that the Dotcom Bubble is repeating itself in 2022. In a tweet on April 22, popular trader Peter Brandt highlighted similarities between the Nasdaq 100 (NDX) now and twenty years ago. “Deja vu all over again” Bitcoin has shown itself to be highly correlated to U.S. equities this year. In particular, BTC/USD recently became attached to the NDX, which has not passed by some of the industry’s best-known names. As stocks themselves come under pressure from…

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DeFi sector TVL rises as investors return to a bullish crypto market

The month of March has been a tale of two halves for the cryptocurrency market and the weakness seen since the start of the year has began to fade. Bitcoin’s (BTC) strong move above the $40,000 level is helping to lift sentiment across the sector, and DeFi tokens are also beginning to move upward.  Crypto Fear & Greed Index. Source: Alternative.me Data from cryptocurrency market intelligence firm Messari shows that a majority of the top tokens in the DeFi sector have posted double-digit gains over the past 30 days, led…

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Bottomed out? MINA rises 75% nine days after hitting its worst level to date

MINA, a utility token backed by a “lightweight” smart contracts platform of the same name, continued its upside move nine days after rebounding from $1.58, its lowest level to date. The coin rallied by about 75% to reach $2.75 as of March 24 as traders weighed a high-profile funding rounds involving the sale of $92 million worth of MINA tokens to Three Arrows Capital, FTX Ventures, and other venture capitalists. MINA/USD daily price chart featuring its correlation with Bitcoin. Source: TradingView An overall recovery sentiment across the crypto market also assisted in…

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Waves price rises 230% in just three weeks — Could a ‘triple top’ spoil the rally?

Waves (WAVES) continued its price rally further into this week, even as its top crypto rivals wobbled between losses and gains elsewhere in the market. A 230% Waves boom The WAVES/USD trading pair surged by nearly 75% this week to reach around $31, its best level since Oct. 28, 2021. Its rally came as a part of an upside retracement move that saw it rising by a little over 230% in three weeks. WAVES/USD weekly price chart. Source: TradingView In contrast, Waves’ top rival in the smart contracts sector, Ethereum, underperformed,…

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Bitcoin rises above $36K as 24-hour crypto liquidations pass $500M

Bitcoin (BTC) edged higher after Wall Street opened on Feb. 24 with Russia’s Ukraine invasion and its aftermath still top on markets’ agenda.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Risk sentiment set to be “dominant driver” in crypto Data from Cointelegraph Markets Pro and TradingView showed BTC/USD nearing $36,400 on Bitstamp two hours after the opening bell, up to $2,000 from its recent lows. Skittish markets faced the music from Russia’s overnight incursion into Ukraine, a move that continued and ricocheted across global trading. Russia’s stock market unsurprisingly faced…

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Exchange stablecoin reserve hits $27B as Bitcoin rises toward $50K ‘fair value’

Cryptocurrency exchanges now have more stablecoins on their books than ever before in a fresh sign investors are waiting to buy Bitcoin (BTC) and altcoins. Data from on-chain analytics platform CryptoQuant shows that this week, exchanges’ total stablecoin reserves passed 27 billion for the first time. Exchange users herd stablecoins to accounts After reaching a previous peak in late December, stablecoin reserves tumbled at the start of 2022 as BTC/USD and altcoin markets fell in tandem to multi-month lows. In recent weeks, however, the trend has reversed, with exchange users…

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