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Data shows the bear market has also hit Ethereum decentralized finance (DeFi) hard, as the total value locked in the sector has declined by 76%.
Decentralized Finance (or DeFi as it’s most commonly known) includes all types of financial services that are done on the blockchain. Like other entities on the blockchain, DeFi is public and doesn’t involve any centralized party to get things done (as transactions are peer-to-peer).
Shiba Inu has declined another 3% in the last 24 hours, but the meme coin remains the top dog of the Ethereum whales.
Recent months haven’t been the best for the cryptocurrency market, as even the top coins like Bitcoin and Ethereum have suffered deep negative returns, but SHIB has had it especially worse lately.
At the time of writing, Shiba Inu is trading around $ 0.00000795, down 3% in the last 24 hours. Below is a chart that displays the trend in the asset’s value during the past month.
On-chain data shows investors withdrew a large amount of Ethereum during 2022 as the ETH reserves have fallen by more than 30%.
As pointed out by an analyst in a CryptoQuant post, these investors may have been withdrawing with the aim of holding in the long term. The “exchange reserve” is an indicator that measures the total amount of Ethereum currently being stored in the wallets of all centralized exchanges.
The post 🔴JPMorgan Fears Crypto Decline | This Week in Crypto – Oct 3, 2022 appeared first on 99 Bitcoins.
Blackrock launches a Metaverse ETF, Elon Musk envisions a blockchain-based social media platform and can …
🔴JPMorgan Fears Crypto Decline | This Week in Crypto – Oct 3, 2022 Read More »
The crypto bear market has had a significant impact on investing patterns across the space. Where the interest peaked in the bull market of 2021, the reverse was the case during the bear trend of 2022. In light of this, there has been an impact on the download numbers of crypto exchange apps across the space. In particular, the download numbers of crypto apps across the European market.
Crypto App Numbers Fall By Half
Bitcoin funding rates have been on a bearish trend in recent months. It has now spent one of its longest stretches in neutral and below neutral territory. But even with the recovering prices and sentiment in the crypto space, the funding rates have refused to mirror the trend. Instead, it has spent another week below neutral, painting a grim picture of how traders are viewing the market presently.
Traders Do Not Expect Recovery
Bitcoin funding rates are a good indication of when traders expect some form of recovery in the coming days. Since the market crash in June, the rate has refused to record any significant positive momentum, indicating that bitcoin traders do not expect a recovery going forward.
Intec Pharma Ltd. is a tiny company in the space of pot stocks, doing clinical research involving cannabis. But one of their drugs failed a Stage III clinical trial. Intec’s stock got crushed and lost 81 percent of its value. Death of A Cannabis Stock Dream Intec has three drugs in its pipeline, including cannabis […]
The post Cannabis Stock Destroyed by 81% Decline on Clinical Trial Failure appeared first on CCN Markets
By CCN.com: Asian and European markets opened Tuesday on a weaker note as the International Monetary Fund (IMF) warned about sluggish global growth in 2019. Weak Chinese Market Forecasts The Asian session primarily saw a slowdown in the Chinese economy. At 0625 UTC, the Shanghai Composite index was trading at 2579.669 points, down 1.15% from
The post Trade Wars, Brexit & a Weak 2019 Forecast: What’s Prompting Asian and European Markets to Decline? appeared first on CCN
China’s economy is facing some of its toughest challenges in years. On Wednesday, a day after several Chinese government institutions vowed further stimulus to aid its financial sector, the People’s Bank Of China injected a net $ 83 billion (560 billion yuan) into open market operations via reverse repo operations — to counter its declining economy.
The post China Injects Record $ 83 Billion to Counter Economic Decline appeared first on CCN
Stock prices of twelve of the largest pharmaceutical companies in the USA have fallen sharply after the commencement of a Congressional investigation into prescription drug pricing practices. In a statement released yesterday, it was revealed that the House Oversight Committee chaired by Senator Elijah Cummings (D-Md) sent letters requesting information about their pricing strategies to AbbVie, Amgen,
The post Pharma Stocks Decline as House Democrats Investigate Drug Prices appeared first on CCN
On December 26, following Christmas, the Dow Jones recorded a gain of over 1,000 points. But, shortly thereafter, the Dow Jones fell by nearly two percent, unable to recover from a bear market territory. Why Investors Shouldn’t Get Excited Earlier, CCN reported that despite the five percent gain of the Dow Jones, investors in U.S.
The post Don’t Get Excited: Dow Jones Expected to Continue its Decline After Big Rally appeared first on CCN
On December 14, following a fairly large sell-off from the $ 3,400 region, the Bitcoin price dropped to a new yearly low at $ 3,200. As Bitcoin (BTC) declined in value, other major cryptocurrencies including Ethereum (ETH), Stellar (XLM), and Bitcoin Cash (BCH) experienced large losses against the U.S. dollar, with BCH falling by more than 11
The post Bitcoin Price Drops to New Yearly Low at $ 3,200: What’s Causing the Decline? appeared first on CCN
Stephen Innes, the head of trading for the Asia Pacific region at foreign exchange (FX) trading giant Oanda, has said that the plunge in the value of bitcoin and crypto will lead to a surge in the price of gold. In an interview, Innes said: “There’s still a lot of people in this game. If … Continued
The post Fake News: Analyst Falsely Claims Bitcoin Price Decline Will Spark Gold Rally appeared first on CCN
Perhaps it’s unsurprising to readers familiar with Blockstream CEO Adam Back’s recent prediction of a $ 500,000 Bitcoin, but one of the blockchain startup’s chief technological efforts, the Lightning Network (LN) — which facilitates off-chain Bitcoin payments instantly at very little cost — saw a rise to over $ 2 million in capacity while the price of
The post $ 2 Million: Lightning Network Hits Record Capacity Despite Bitcoin Price Decline appeared first on CCN
Over the past several days, there has been much debate within cryptocurrency circles about a series of videos and images allegedly showing Chinese crypto mining firms dumping bitcoin miners on the street. BRUTAL: this is what’s happening now in a China based mining site …. 😨😨 pic.twitter.com/gcN4lVTyBt — Dovey Wan 🦖 (@DoveyWan) November 20, 2018
The post Bitcoin Miners are Selling Old ASICs for Scrap Metal as Price Decline Hastens Obsolescence appeared first on CCN
By now our readers are aware that the crypto market has been on a downhill slope the past few weeks, and the whole year, really, going from the highs of the end of last year now to new 2018 low below $ 5,000. What our readers may not have learned yet, however, is that the job
The post Blockchain Job Offerings and Seekers Decline with Crypto Market Capitalization appeared first on CCN
For the first time in three months, Bitcoin initiated its first major move. Unfortunately, for investors in the crypto market, BTC plunged by more than 11 percent, engaging in one of the most intense sell-offs in a 24-hour period in all of 2018. Bitcoin Price Tumbles On CNBC Fast Money, BKCM founder and CEO Brian
The post Brian Kelly: Bitcoin Price Decline Will be a Short-Term Event appeared first on CCN
On November 15, the crypto market experienced a wipeout of more than $ 27 billion, as its valuation dropped from $ 210 billion to $ 183 billion. As CCN reported, the intensity of the drop reached to a point in which Bitcoin dropped by more than 11 percent, after having defended the $ 6,000 support level for nearly six
The post Crypto Crash Impacts Large Financial Firms as SBI Shares Decline appeared first on CCN
When the bitcoin price flatlined near $ 6,500 in mid-October, many crypto analysts predicted that the bears had finally become winded following a market downturn that has persisted for nearly a year and that the market could be primed for a December rally. However, technical analyst and trader Willy Woo does not believe that the flagship
The post Bitcoin Price Decline Will Persist until Mid-2019: Crypto Analyst Willy Woo appeared first on CCN
Nearly all cryptocurrencies remain in the red for the time being. That is an unfortunate development, although the momentum will turn around eventually. One currency struggling quite a bit is TRON, as the altcoin is not finding any stable ground lately. The most recent push to surpass $ 0.023 was pushed down in violent fashion, and a new attempt might not materialize soon.
