Episode four of Cointelegraph’s Crypto Trading Secrets podcast features an interview with Nicholas Merten, who shared his opinions on the crypto bear market and more.
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3 reasons why the MANA and SAND metaverse token rally could end soon
The metaverse hype that began in 2021 dissolved almost entirely by the end of 2022 as the top projects in the space, Decentraland and The Sandbox, lost 95% of their market capitalization. The most prominent reason for the fall was a lack of user growth.
Still, the metaverse narrative is far from dead and will grow in the future. Reportedly, Apple will launch its virtual reality gear sometime in spring 2023. The announcement was a positive catalyst for Decentraland’s MANA and The Sandbox’s SAND, causing a double-digit price surge.
While there’s evidence of positive buying volume supporting the pump, the weak fundamentals of metaverse platforms and overheated market indicators suggest that the price pump risks reversing quickly.
The Apple pump-and-dump
Facebook’s (Meta) foray into the metaverse was one of the most prominent catalysts for metaverse tokens. The idea for Decentraland’s and The Sandbox’s growth is that a decentralized metaverse would flourish more than Meta’s centralized version.
However, the technology has yet to become popular among the masses. In 2022, the percentage of VR users among Steam gamers was less than 2%, and the usage has yet to grow over the past two years. This is discouraging for the technology’s adoption because the gaming sector was the first to embrace it.
Why is crypto pumping? Watch The Market Report live
This week on The Market Report, the resident experts at Cointelegraph discuss the real reasons behind the recent price pump in the market. Can this lead to a $25,000 Bitcoin (BTC) and beyond, or will some unforeseen event ruin the party? Tune in to find out.
We start off this week’s show with the latest news in the markets:
Stablecoin data points to ‘healthy appetite’ from bulls and possible Bitcoin rally to $25K
Bitcoin rallied 11% between Jan. 20 and Jan. 21, reaching the $23,000 level and shattering bears’ expectations for a pullback to $20,000. Even more notable is that the move brought demand from Asia-based retail investors, according to data from a key stablecoin premium indicator. Another bit of bullish information came on Jan. 20 after United States Federal Reserve Governor Christopher Waller reinforced the market expectation of a 25 basis point interest rate increase in February. Do these and other odds favor a rally toward $24,000 or maybe even $25,000?
SEC commissioner reminds of ‘the point of crypto’ as market aims for recovery
Why is crypto pumping? Watch The Market Report live
On this week’s episode of The Market Report, Cointelegraph’s resident experts discuss the reasons behind the latest crypto pump.
Bitcoin halts volatility at $23K as BTC hodlers see mass return to profit
Short-term and long-term investors alike are back in the black with Bitcoin undecided on where to go next.
Bitcoin halts volatility at $23K as BTC hodlers see mass return to profit
Bitcoin (BTC) traded sideways at the Jan. 24 Wall Street open with analysts at a loss over where price would go next.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price holds below key resistance
Data from Cointelegraph Markets Pro and TradingView tracked a day of consolidation for BTC/USD, which continued to linger near $23,000.
The pair saw little reaction to the start of trading, including technical problems at the New York Stock Exchange, while United States macroeconomic data also failed to change the status quo.
Bitcoin thus lacked direction after establishing a narrower trading range on Jan. 20.
“Bitcoin couldn't break through a crucial resistance at $23.1K,” Cointelegraph contributor Michaël van de Poppe summarized.
7 people who could be Bitcoin creator Satoshi Nakamoto
To this day, the exact identity of Satoshi Nakamoto remains a mystery.
SushiSwap passes 100% fee relocation, 10.9M SUSHI clawback proposals
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According to a governance proposal passed on Jan. 23, decentralized exchange (DEX) SushiSwap will soon redirect 100% of trading fees on the platform to its treasury for operations and maintenance for one year's duration. The move came after CEO Jared Grey warned that the exchange "only has 1.5 years of treasury runway left," even after slashing annual operating expenses from $9 million to $5 million amids the ongoing crypto winter.
SushiSwap passes 100% fee relocation, 10.9M SUSHI clawback proposals
100% of trading fees on the platform will soon be redirected to the SushiSwap treasury for maintenance and expenses.
Ethereum vs. Bitcoin: ETH price risks 20% drop if key support level breaks
ETH price has repeatedly failed to break above a key trendline resistance and now Ethereum risks losing a strong technical support as well.
Ethereum vs. Bitcoin: ETH price risks 20% drop if key support level breaks
Ether's (ETH) rally versus Bitcoin (BTC) is not only showing signs of exhaustion, but is also in danger of breaking below a key technical support level.
ETH slides vs. BTC in second half of January
The ETH/BTC pair declined nearly 9.25% on Jan. 24 from its local top of 0.0779 BTC established on Jan. 11. Since the start of the year, Bitcoin is slightly outpacing Ether in USD terms, rising 38% versus 35%, respectively.
ETH/BTC daily candle price chart. Source: TradingViewInterestingly, Ether's pullback versus Bitcoin has landed its price at the bottom of its EMA ribbon range, as shown below.
ETH/BTC weekly candle price chart. Source: TradingViewThe EMA ribbon indicator shows numerous exponential moving averages of increasing timeframe on the same price chart. Dropping below the ribbon range increases an asset's likelihood of seeing an extended down-move.
So in other words, breaking lower would increase its possibility of declining by more than 20% from its current price levels.
Reformed ‘altcoin slayer’ Eric Wall on shitposting and scaling Ethereum
Although he’s had a variety of jobs in the industry, including a stint as Arcane Asset’s chief investment officer, Eric Wall is probably best known for shitposting and arguing with people on Crypto Twitter.
“Just like any other person, I’m scrolling my Twitter feed, and then you see people saying dumb shit that is incorrect, and that is based on a lie. And then I just argue with that person, and then those arguments lead to long-form Medium articles,” he says with just a faint trace of a Swedish accent.
“I’m just trying to correct ‘incorrectness’ in the space.”
He’s been working on a super-secret project ever since he left Arcane early last year, so he doesn’t have an official title apart from “blockchain researcher” and board member for Ethereum scaling solution the StarkNet Foundation.
After arguing with people for years for free, more recently, Wall has been attempting to make money from challenging antagonists to a bet and has also (semi-literally) begun collecting the skulls of his enemies. “That has been paying off in tungsten cubes and actual money,” he says.
Reformed ‘altcoin slayer’ Eric Wall on shitposting and scaling Ethereum
Although he’s had a variety of jobs in the industry, including a stint as Arcane Asset’s chief investment officer, Eric Wall is probably best known for shitposting and arguing with people on Crypto Twitter.
“Just like any other person, I’m scrolling my Twitter feed, and then you see people saying dumb shit that is incorrect, and that is based on a lie. And then I just argue with that person, and then those arguments lead to long-form Medium articles,” he says with just a faint trace of a Swedish accent.
“I’m just trying to correct ‘incorrectness’ in the space.”
He’s been working on a super-secret project ever since he left Arcane early last year, so he doesn’t have an official title apart from “blockchain researcher” and board member for Ethereum scaling solution the StarkNet Foundation.
After arguing with people for years for free, more recently, Wall has been attempting to make money from challenging antagonists to a bet and has also (semi-literally) begun collecting the skulls of his enemies. “That has been paying off in tungsten cubes and actual money,” he says.
Reformed ‘altcoin slayer’ Eric Wall on shitposting and scaling Ethereum
Although he’s had a variety of jobs in the industry, including a stint as Arcane Asset’s chief investment officer, Eric Wall is probably best known for shitposting and arguing with people on Crypto Twitter.
“Just like any other person, I’m scrolling my Twitter feed, and then you see people saying dumb shit that is incorrect, and that is based on a lie. And then I just argue with that person, and then those arguments lead to long-form Medium articles,” he says with just a faint trace of a Swedish accent.
“I’m just trying to correct ‘incorrectness’ in the space.”
He’s been working on a super-secret project ever since he left Arcane early last year, so he doesn’t have an official title apart from “blockchain researcher” and board member for Ethereum scaling solution the StarkNet Foundation.
After arguing with people for years for free, more recently, Wall has been attempting to make money from challenging antagonists to a bet and has also (semi-literally) begun collecting the skulls of his enemies. “That has been paying off in tungsten cubes and actual money,” he says.
Amid crypto winter, central banks rethink in-house digital currencies
In recent months, four countries that had previously initiated major CBDC pilot programs have scrapped their adoption plans altogether.
Listen-and-Earn allows Bitcoin payments for podcasters and listeners
The Fountain podcasting app announced a partnership with ZEBEDEE to allow podcast creators and listeners the ability to earn Bitcoin for their time spent with content.