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Bitcoin Market Capitalization May Travel Through A Golden Trail With These 3 Projects

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Amidst the turmoil the crypto industry has been involved in over the past month, the global market capitalization has dropped from the psychological level of $ 1 trillion; Bitcoin has followed the trend. The largest cryptocurrency in the market cap dropped from $ 445 billion to $ 420 billion. 

Over time, the utility of BTC has been narrowed as a store of value and transfer of value. However, the emergence of BTC Decentralized Finance (DeFi) protocols is trying to convert the utility of this network even further, expanding its use cases with the arrival of the Ordinals protocol.   Read more...

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Dogecoin, Shiba Inu Record Double-Digit Losses Amid Market Uncertainty

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Dogecoin and Shiba Inu have had a tough go of it lately. Given that these are digital assets that are largely driven by hype, the decline in interest in the crypto market has greatly affected their performance. Amid all of these, both of these meme coins are now some of the highest losses among the largest cryptocurrencies in the space.

Dogecoin And Shiba Inu See Large Losses

Over the last week, most cryptocurrencies in the market are down significantly from their January peaks. Among these are Dogecoin and Shiba Inu, both of which have seen their losses climb into the double-digit territory in a seven-day period.  Read more...

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Here Are The Meme Coins That Have Seen Green Amid Market Fall-Off

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Over the last week, cryptocurrencies in the market have seen a decline as momentum slowed down, but there are some meme coins that have been able to hold onto a good portion of their gains during this time. These meme coins have continued to perform well, outlasting various forecasts that have predicted their ‘deaths.’

Floki Inu (FLOKI)

Floki Inu (FLOKI), a cryptocurrency named after Elon Musk’s pet Shiba Inu dog Floki, is one of the best-performing meme coins in the market currently. It is ranked as the third-largest meme coin by CoinGecko with a market cap of approximately $ 471 million.  Read more...

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Why A Drop In Stablecoin Market Cap Is A Bad Sign For Crypto, According To Morgan Stanley

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According to researchers at the U.S. investment firm Morgan Stanley, stablecoin instruments may be able to compete with conventional banking systems, and its dropping market capitalization signals a decrease in cryptocurrency liquidity and leverage.

The bank has issued a warning to cryptocurrency investors, stating that decreased issuance of these asset types will likely have a detrimental influence on crypto trading in the future.

According to the research’s findings, a decline in the market value of stablecoins is indicative of inadequate cryptocurrency liquidity and leverage. For the bitcoin market, this corresponds to quantitative tightening.  Read more...

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Crypto In The Crosshairs And Bitcoin Market Dynamics

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Announcements by government agencies make stricter regulations look imminent for the crypto industry. How derivatives market action impacts the bitcoin price.

The below is an excerpt from a recent edition of Bitcoin Magazine PRO, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

 Read more...

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Bitcoin Exchange LocalBitcoins To Shut Down, Citing Market Conditions

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According to an announcement on its website, the peer-to-peer Bitcoin platform will be shutting down before the end of February 2023.

LocalBitcoins has announced that the exchange will be closed for service by the end of February. The long-time Bitcoin trading service was the first peer-to-peer (P2P) transaction platform for many Bitcoiners. Launched in June 2012, the exchange is one of the oldest entities in Bitcoin, establishing itself as a primary P2P player in its hey-day with over $ 100 million in weekly trading volume of peer-to-peer transactions.  Read more...

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Top Crypto Miner At Record Bitcoin Production, Bear Market Over?

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The Bitcoin (BTC) mining and data center hosting company Riot has recently announced its production and operations update for January 2023. It has produced a new all-time high of 740 Bitcoin in the last month. 

Can the recent reports of eased inflation and the change of tightening policies by the Federal Reserve (FED) in 2023, plus the return of capital to the crypto market, be a sign of the end of the bear market and the renaissance of the new bull cycle?  Read more...

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Bitcoin Derivatives Market Volumes Show Bullish Trend After 2022 Downturn

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Bitcoin continues to see a bullish uptrend across the board, with the derivatives market volume witnessing an upturn in fortunes. BTC prices in futures contracts have begun to exceed spot market prices indicating that traders are gaining confidence in the derivatives market. 

Bitcoin Derivatives Volume Shows Steep Decline In 2022

Bitcoin witnessed an extended bearish trend in 2022, resulting in a 60% drop in its price and a steep decline in bitcoin futures and options volumes. The collapse of FTX last November further diminished the market sentiments, and there was a significant withdrawal from the derivatives market, accompanied by long liquidations and a strong bearish bias.   Read more...

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Bear Market Setbacks Have Left Bitcoin Miners Behind Their Gold Counterparts

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Digital gold mining companies suffered harsher drawdowns than their legacy counterparts in 2022.

Bitcoin’s prominent memetic narrative as “digital gold” begs a comparison to the real yellow metal. But since the advent of Bitcoin, comparative perspectives of the mining sectors underlying both assets are too often missing.

In May 2022, this author published data on the gold/bitcoin mining contrast as digital gold producers were significantly underperforming ore miners. Now, the time seems right to provide a follow-up overview of some recent market data for bitcoin and gold miners.  Read more...

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Crypto Market Sentiment Returns To Pre-LUNA Crash Levels, What Does This Mean?

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The crypto market sentiment dropped drastically through 2022. Most of it was triggered by multiple firms collapsing, sending market prices into a downward spiral. This saw investor sentiment bouncing between fear and extreme fear for the better part of H2 2022. However, there has been a turn in the tide as bitcoin leads the market on another rally. Investor sentiment has now returned to pre-LUNA crash levels.  Read more...

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Shiba Inu Stagnates As Meme Coin’s Social Score And Market Cap Plunge

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As of writing, Shiba Inu has been up 41% in the monthly time frame. This rally is being boosted by the renewed investor sentiment in cryptocurrencies which led to major cryptocurrencies like Bitcoin and Ethereum regain ground lost when FTX collapsed. 

SHIB is one of those tokens that has climbed hard because of its high correlation with Bitcoin and Ethereum. Along with the news of the token’s network upgrade being hyped up, SHIB’s rise is a sure win for investors and traders. 

However, the token has recently entered a sideways market movement ahead of its Shibarium upgrade. Can Shiba Inu continue its rally or will it experience pain?   Read more...

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Bitcoin Vs. Banks: Crypto Beats Top Banking Giants In Market Cap Department

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Bitcoin continues to push the cryptocurrency industry toward widespread acceptance on a worldwide scale, engaging directly with big traditional entities such as banks.

The crypto’s remarkable market capitalization is illustrative of the asset class’ future potential.

Bitcoin has been at the vanguard of the cryptocurrency industry; not only has it been the top digital currency, but it has also been the top choice for the majority of crypto users, making it a solid predictor of the crypto market as a whole.

Bitcoin, the world’s largest cryptocurrency with a market valuation of $ 443 billion as of January 24, is way more valuable than any major bank.  Read more...

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Coinbase Ends Operations In Japan Citing Extreme Market Conditions

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The cryptocurrency market, regardless of the ongoing “mini bull run,” is still a long way from its 2021 levels, with companies laying off staff and some even closing operations. The latest on the list of firms halting services is Coinbase.  Per a recently published blog post by Coinbase, the crypto exchange company said it would be closing down its operations in Japan. 

The exchange said the halting of operations in Japan has no effect on its other official branches across the globe. Coinbase Japanese customers are to withdraw their crypto and fiat holdings by February 16. The company stated it would conduct a complete review of its business in the country following the market conditions closing in.  Read more...

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Bitcoin Volatility Hits Historic Lows Amid Market Apathy

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The brunt of the price-based capitulation has already been felt, while the real pain ahead is a waiting game for the market to finally turn around.

The below is an excerpt from a recent edition of Bitcoin Magazine PRO, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

 Read more...

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Solana Beats Competitors In Market Cap – Will SOL Shine Brighter This Week?

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Solana, the touted “Ethereum killer,” has sustained losses in the past few months because of the bear market and its ties to Sam Bankman-Fried’s now-defunct crypto exchange FTX. But recently, the troubled ecosystem surpassed Shiba Inu and Tron in terms of market valuation. 

As of writing, SOL still held this advantage according to data from CoinMarketCap. This bullish action caused the crypto’s price to jump 0.9% in the daily timeframe, further beefing up its 36% increase in the past week.  Read more...

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DCG Closes Subsidiary HQ Digital, Fueling Fears In Bitcoin Market

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Digital Currency Group (DCG), the crypto conglomerate that owns lender Genesis Trading and asset manager Grayscale, among others, today made public that it has closed its asset management division called HQ Digital, fueling new fears within the bitcoin and crypto industry, given that the company managed $ 3.5 billion in total assets in December.

A memo obtained by The Information states that HQ Digital is being shut down due to the “general economic environment and the ongoing crypto winter, which is creating significant headwinds for the industry,” and that the company may revisit the project in the future. This is a DCG subsidiary that was formed just last year.  Read more...

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5 Best Crypto Performers During The 2022 Market Flop

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The exuberant peaks of the crypto business in 2022 fell into an extended crypto winter and left many of the sector’s top companies belly up.

The aftermath of the shutdown of several large cryptocurrency exchanges has made concerns about liquidity and solvency a big topic of conversation throughout the market.

At the beginning of the year, the total market capitalization of all cryptocurrencies was estimated to be $ 2.2 trillion. By the end of 2022, this amount would fall below $ 800 billion. Therefore, this shows a great deal about the events of the period.  Read more...

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Is The NFT Bull Market Back? Here’s What The Data Says

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The NFT market took a rather significant beating in the year 2022 despite reaching its peak trading volume at the start of the year. Since then, volume is down more than 94% as investors move away from these highly illiquid assets. However, there has been an upturn in NFT volume in the last month, so is the NFT bull market back?

What The Data Says

Looking at data from IntoTheBlock, it does show that there has been a rise in NFT trading volume over the last month but this has not been steady growth. In fact, the graph shows more of a zig-zag pattern meaning that the volume has seen highs and lows during this time.  Read more...

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Major Publicly Traded U.S. Bitcoin Miner Files For Chapter 11 – Impact On The Market?

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What many suspected after the news broke in late October has now become a reality. One of the largest publicly traded Bitcoin mining companies in the U.S., Core Scientific Inc. (CORZ), has filed for Chapter 11 bankruptcy, CNBC reported today. The network cites an anonymous source.

Whether the Bitcoin mining company will survive the crypto winter, however, remains to be seen. CORZ is still generating cash flow, but it is not enough to pay off the financing debt from the machine lease.  Read more...

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Dogecoin Smokes Coinbase By $2 Billion In Market Cap – No Longer A ‘Silly’ Joke?

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As Coinbase CEO Brian Armstrong bared plans on Monday to outline an actionable framework for achieving regulatory clarity in the cryptocurrency space, something came up that might require some of his attention: his crypto exchange has just been overtaken in the market value department by a token most people see as a joke.

Dogecoin (DOGE) momentarily hit its biggest market value of approximately $ 89 billion on May 8, 2021, with a token price of $ 0.6818.  Read more...

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