Data from crypto analytic firm Glassnode shows future long liquidation of BTC touched a new 8-month high as BTC price crashed below $22,000 on Friday.
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Weak address growth points to Bitcoin price failing to sustain $25K
Active addresses did not mimic previous successful price breakout this month, one analyst says, while seemingly realized price returns as resistance.
Weak address growth points to Bitcoin price failing to sustain $25K
Bitcoin (BTC) is staging a repeat of price action from May with its latest drop, the latest data shows.
As the dust settles on a 6% comedown for BTC/USD, analysis argues that its trip to $25,000 was never meant to last.
Realized price comes back to haunt the BTC chart
After taking some by surprise with its magnitude, the latest snap losses for BTC price action are still playing out.
After falling from $23,800 to as low as $21,400 in a single hour, the largest cryptocurrency is now attempting to establish support near its realized price.
At just below $22,000, realized price refers to the sum total at which the entire BTC supply last moved.
Hodlnaut cuts 80% of staff, applies for Singapore judicial management
Embattled cryptocurrency lending platform Hodlnaut cuts staff ahead of application for judicial management.
Hodlnaut cuts 80% of staff, applies for Singapore judicial management
Embattled cryptocurrency lending platform Hodlnaut cuts staff ahead of application for judicial management.
Hodlnaut cuts 80% of staff, applies for Singapore judicial management
Embattled cryptocurrency lending platform Hodlnaut cuts staff ahead of application for judicial management.
Bitcoin 'very bearish' below $22.5K says trader as BTC price dives 6%
Sudden bearish sentiment takes hold as BTC price action returns to an area not seen since late July.
Bitcoin 'very bearish' below $22.5K says trader as BTC price dives 6%
Bitcoin (BTC) fell rapidly on Aug. 19 as the culmination of a week’s sideways action ended in disappointment for bulls.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewNew lows "just a matter of time
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it dropped 6.2% in a single hourly candle.
Reacting, traders hoped that a rebound could allow for consolidation higher than current spot price levels, which were under $22,000 at the time of writing.
“Well, hopefully that was liquidity seeking, otherwise it's over,” a gloomy Crypto Chase told Twitter followers.
Fellow account Il Capo of Crypto, who had long forecast a return to lower levels, was resigned to new lows being “just a matter of time.”
Bitcoin 'very bearish' below $22.5K says trader as BTC price dives 6%
Sudden bearish sentiment takes hold as BTC price action returns to an area not seen since late July.
Bitcoin 'very bearish' below $22.5K says trader as BTC price dives 6%
Bitcoin (BTC) fell rapidly on Aug. 19 as the culmination of a week’s sideways action ended in disappointment for bulls.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewNew lows "just a matter of time
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it dropped 6.2% in a single hourly candle.
Reacting, traders hoped that a rebound could allow for consolidation higher than current spot price levels, which were under $22,000 at the time of writing.
“Well, hopefully that was liquidity seeking, otherwise it's over,” a gloomy Crypto Chase told Twitter followers.
Fellow account Il Capo of Crypto, who had long forecast a return to lower levels, was resigned to new lows being “just a matter of time.”
MMORPG went into ‘hiatus’ after crypto investors bailed, denies it misused funds
Phat Loop Studios, the company behind the "Pokemon-like" game Untamed Isles has blamed the crypto market crash as a reason its investors bailed.
US Trustee motions for examiner to probe Celsius’ ‘significant transparency issues’
The Trustee overseeing Celsius’ bankruptcy case has requested an examiner to help shed the light on a number of complex issues.
Ripple partners with Travelex to launch enterprise crypto payment service in Brazil
The rollout of Ripple’s fast and cheap On-Demand Liquidity payment service means that enterprises will no longer have to wait three to five days to settle costly cross-border transactions.
'Programmable money should terrify you' — Layah Heilpern
The comments come as Layah Heilpern believes CBDCs will give rise to government enforced censorship which will prevent residents from transacting how they wish.
Fortnite developer supports Animoca subsidiary's blockchain racing game
The indie games subsidiary has just received support from Epic Games for its upcoming blockchain-powered P2E racing game Torque Drift 2.
Robinhood lands steep 60% discount on $170M exchange acquisition: Report
The US-based stock and crypto trading platform has reportedly secured a 60% cut on the initial offer made to Ziglu due to poor market conditions.
Wife of arrested Tornado Cash dev forbidden to speak with him — Rally organized
Speaking with Cointelegraph, Ksenia Malik stated that Dutch authorities are treating her husband as if he were “were a dangerous criminal” and that the creation of open-source software should never be criminalized.
Wife of arrested Tornado Cash dev forbidden to speak with him — Rally organized
Speaking with Cointelegraph, Ksenia Malik stated that Dutch authorities are treating her husband as if he were “were a dangerous criminal” and that the creation of open-source software should never be criminalized.
US lawmakers appeal directly to 4 mining firms, requesting info on energy consumption
Four members of the U.S. House Committee on Energy and Commerce said they were "deeply concerned" that Proof-of-Work mining could increase demand for fossil fuels.
A sharp drop in TVL and DApp use preceded Avalanche’s (AVAX) 16% correction
After an impressive 73% rally between July 13 and Aug. 13, Avalanche (AVAX) has faced a 16% rejection from the $30.30 resistance level. Some analysts will try to pin the correction as a "technical adjustment," but the network’s deposits and decentralized applications reflect worsening conditions.
Avalanche (AVAX) index, USD. Source: TradingViewTo date, Avalanche remains 83% below its November 2021 all-time high at $148. More data than technical analysis can be analyzed to explain the 16% price drop, so let’s take a look at the network’s use in terms of deposits and users.
The decentralized application (DApp) platform is still a top-15 contender with a $7.2 billion market capitalization. Meanwhile, Solana (SOL), another proof-of-work (PoS) layer-1 platform, holds a $14.2 billion market cap, which is nearly twice as large as Avalanche's.
Avalanche’s TVL dropped 40% in 2 months
Some analysts tend to give too much weight to the total value locked (TVL) metic and although this might hold relevance for the decentralized finance (DeFi) industry, it is seldom required for nonfungible token (NFT) minting, digital item marketplaces, crypto games, gambling and social applications.
Using the layer-2 solution Polygon (MATIC) as a proxy, it currently holds a $2.2 billion TVL while MATIC’s market cap stands at $7.2 billion, thus a 3.3x MCap/TVL ratio. Curiously, the same ratio applies to Avalanche, which currently holds a similar $2.2 billion TVL and $7.2 billion capitalization.
