Polkadot founder Gavin Wood announced the new governance structure as part of the Polkadot Decoded 2022 conference. Polkadot Updates Governance Model Cryptos eighth-biggest blockchain is preparing to transform its governance…
Solana is planning to release a mobile phone, marking one of the industrys first attempts to grow Web3 technology beyond the desktop. Included in the phone will be a dApp…
Voyager Digital lent over half of its loan book to Three Arrows Capital and announced major losses due to this exposure. The company’s stock took a massive hit.
MoonXBT, a social cryptocurrency trading platform with spot, contract, and options markets, announced that it has officially launched its new referral program. Currently, MoonXBT users can earn commissions by referring new users to the platform. Once the new user trades in the spot, contract, or options markets on MoonXBT, the user that referred them will […]
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A robot with a reputation for outpacing the crypto markets is revealing its latest portfolio allocations as Bitcoin (BTC) and Ethereum (ETH) weather high volatility. Each week the Real Vision Bot conducts surveys in order to create algorithmic portfolio assessments consistent with a “hive mind” consensus. The bot’s newest data finds that traders’ risk appetite […]
A widely followed crypto strategist is unveiling his top altcoin picks amid the crypto pullback, which includes Ethereum (ETH) and three of its challengers. Michaël van de Poppe tells his 611,800 Twitter followers that he is positioned for huge rallies in smart contract platforms Ethereum, Cardano (ADA), Avalanche (AVAX) and Fantom (FTM), as well as […]
The post Analyst Michaël van de Poppe Unveils Altcoin Picks, Says He’s Bullish on Ethereum and Three ETH Rivals appeared first on The Daily Hodl.
The arrival of SMUGGLEBOT has the potential to change the virtual marijuana and NFTs game substantially. SMUGGLEVERSE can be described as a whole new reality in which the most popular strains of virtual cannabis are transported or digitally smuggled throughout the Metaverse and where avatars obtain record deals. The launch of SMUGGLEBOT and possibly the […]
Per a study published by Clarify Capital, the U.S. has seen a shift in its approach to crypto and the blockchain-based industry. The North American country used to be renowned for its hostility towards the digital asset class, but every state has been adopting its own policies. Related Reading | Terra’s Do Kwon May Face Charges […]
There have been multiple sell-off trends recorded in bitcoin since the crash in December 2021. These sell-offs have been responsible for the decline in prices recorded in the digital asset over the last couple of months. Naturally, sell-off trends can be recorded on their magnitude depending on when the trading hours of a particular region are open. This time around, it seems that macro pressure on the U.S. market has been the culprit. U.S. Traders Drive Sell-Offs The sell-offs of the past two months have been especially brutal and have dragged down the year-to-date values. However, it seems that most of the sell-offs have been taking place during the daytime trading hours in the United States. This is apparent by looking at the year-to-date values during the U.S. trading hours in comparison to that of the European year-to-date value. The stark contrast unveils where most sell-offs had happened. Related Reading | Bullish: Bitcoin Marks First Green Weekly Close After Two Months In The Red As it sits now, the year-to-date values during the U.S. trading hours have declined into the negative. It is sitting at -32.55% while its European counterpart is looking at positive year-to-date values of +16%. What this shows is that sell-offs for the past two months have mainly originated from American traders. This is even in comparison to the Asian trading hours which also show a more favorable year-to-date value compared to the U.S. BTC sell-offs intensify during U.S. trading hours | Source: Arcane Research Mostly, this is obvious due to the high correlation between bitcoin and the equities market for the past two months. It is also good to note that American traders are not the only ones using the macro markets to assess their risk in bitcoin. Since traders in other regions also use the equity markets such as the NASDAQ and the S&P500 as a way to assess their risk appetite, they may also be dumping bitcoin during the U.S. trading hours. Bitcoin During Trading Hours Recently, it has been obvious that there has been a lot of sell-offs happening once the U.S. markets open up for trading. This is evident in the fact that the price of the digital asset tends to recover during the early hours of the morning while the European and Asian markets are open. However, once the U.S. markets open for the day, the downtrends are usually apparent. Related Reading | A Look Inside MicroStrategy’s $2.4 Billion Loan Used To Buy Bitcoin This puts bitcoin’s current weak point during the times when the American traders are active. As such, these trading hours could present a buying opportunity for interested parties, and even a way to execute quick short-term plays for fast gains. BTC recovers ahead of U.S. trading day | Source: BTCUSD on TradingView.com However, it is important to note that the tide can change at any point. Sell-offs can often halt as dramatically as they begin. So, a change in the trend during the U.S. hours can affect short-term plays which cater to the trading hours sell-offs. The price of the digital asset has recovered above $30,000 in the early hours of Wednesday at the time of this writing. If the sell-off trends continue, then the price of bitcoin may drop below this level before the day is over. Featured image from Bitcoinist, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
The Nexus Dubai Project is excited to provide users with various products and services that promise to change user experience while providing amazing use cases. Nexus Dubai’s product line includes the Nexus Dubai Token (NXD), Nexidius, Electrum, and the UAE Merchant Network. At the core of the project is the NXD token, a bridging multi-network […]
Tron (TRX) founder Justin Sun doesn’t want the Decentralized USD (USDD) stablecoin to become the next TerraUSD (UST). Last month, algorithmic stablecoin UST lost its peg to the US dollar and collapsed along with its affiliated stablecoin Terra (LUNA), wiping out $40 billion in crypto market capitalization. Prior to the UST meltdown, the Tron decentralized […]
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FTX US announced the launch of its stock platform, which allows retail investors to trade standard exchange-listed stocks and ETFs alongside crypto and non-fungible tokens (NFTs). The company, the US affiliate of Bahamas-based crypto exchange FTX, will now provide trading and investment in hundreds of US equities and ETFs within its existing crypto trading software….Read More
OpenSea, the largest marketplace for non-fungible tokens (NFTs), has unveiled a new protocol that will support the purchase and sale of NFTs. The new feature […]
Fireblocks, a blockchain infrastructure & crypto tech provider, announced today the launch of a new, dedicated ‘Web3 Engine’ with a suite of tools for developers to build DeFi, GameFi, and NFT products. Also, Fireblocks’ new web3 engine allows developers to easily build dApps on top of Fireblocks’ tech stack or securely access the full range […]
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