Tag: Mkrusd

Bitcoin Stagnant at $33K: Another Volatile Weekend Incoming? (Market Watch)

by CryptoPotato

After losing more than $2,000 of value in a day, bitcoin has calmed around $33,000. Most alternative coins are also untypically calm since yesterday. However, over the past few weekends, we saw serious volatility, which could reach the market once more in the following hours.

Bitcoin Stagnant Around $33K

The primary cryptocurrency has struggled in the past few days after reaching a 12-day high of $36,600 on Tuesday. The bears regained control at that point and reversed BTC’s price trajectory for the following 72 hours.

Bitcoin firstly dipped beneath $35,000 and, despite a brief attempt to regain some of its losses, kept decreasing in value. This culminated yesterday when the cryptocurrency fell by another 5% to its lowest position in five days of $32,600.

The asset bounced off since then and reclaimed $33,000 where it’s situated now as well. However, the past several weekends all started with adverse price movements, which is why there’re worries that the scenario might repeat itself and BTC could lose another sizeable chunk of value.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Altcoins Stall

The situation with the alternative coins is relatively similar as well. Most were riding higher at the start of the workweek, followed by retracements, and are now untypically calm.




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Ethereum jump to well above $2,250 on Tuesday but failed to continue upwards. Just the opposite, the second-largest cryptocurrency lost $200 since then as currently stands at $2,060.

Binance Coin (-1%), Cardano (-0.5%), Ripple (-1.5%), Polkadot (-2%), Bitcoin Cash (-1%), Litecoin (-2%), and Solana (-1.5%) have all marked minor losses as well. Uniswap has dumped the most from the larger cap altcoins with a 3.7% increase.

Dogecoin is the only one in green from the top ten with a slight jump of 1%.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

A bit more fluctuations come from the lower- and mid-cap altcoins, with Celo (16%) and XinFin Network (13%) leading with the most gains.

In contrast, 0x (-7.5%), UMA (-7.5%), THETA (-7%), Maker (-7%), Telcoin (-7%), Horizen (-6%), and Aave (-6%) have lost the most on a 24-hour scale.

Ultimately, the cumulative market capitalization has lost some ground since yesterday and currently sits around $1.350 trillion.

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Bitcoin Retraces Back to $33K as Crypto Market Cap Loses $80 Billion (Market Watch)

by CryptoPotato

After closing its worst trading quarter in three years, bitcoin continues with its price slumps with a $2,000 drop to just over $33,000. Most alternative coins have also wiped off their recent gains, with ETH close to breaking below $2,100 and BNB sliding well beneath $300.

Bitcoin Drops $2K

The past several days were going rather well for the primary cryptocurrency as it recovered more than $6,000 of value since the weekend bloodbath. It even went towards a 12-day high of over $36,500, as reported yesterday.

Despite the positive news coming from giants like George Soros’ Investment Fund, though, the cryptocurrency started to retrace in the past 24 hours. It firstly dropped to around $34,000, but the bulls didn’t release the control yet and pushed it above $35,000 once more.

However, the bears hadn’t given up and drove the asset south again. This time, BTC’s nosedive was more violent, and it fell to just over $33,000. As such, bitcoin continues with its adverse trading trajectory after closing its worst quarter since 2018 with a 41% decline.

BTC’s market capitalization has dropped to just over $600 billion, while its dominance has also decreased a bit from 46% to 45.5%.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Altcoins in Red; ETH Fighting for $2,100

The alternative coins also enjoyed the past several days with multi-week highs from several of them. Ethereum was a valid example as it added more than 30% of value in days to well over $2,200.

However, ETH has lost more than $100 since then and is currently close to breaking below $2,100.

Binance Coin spiked above $300 as well, but a 4% decline has driven the asset to around $285. Cardano (-1.5%), Dogecoin (-5.5%), Ripple (-3.5%), Polkadot (-3.5%), Bitcoin Cash (-4%), Litecoin (-4%), and Chainlink (-5.5%) are also well in the red from the larger-cap altcoins.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

As the graph above demonstrates, Maker is one of the very few gainers. MRK is up by double-digits since yesterday to above $2,600.

In contrast, Ethereum Classic, UMA, Qtum, Bitcoin Gold, Nano, ICP, THORChain, Shiba Inu, Celo, Theta Fuel, and Filecoin have also retraced by double-digits.

The cumulative market cap of all cryptocurrency assets has lost about $80 billion in a day to below $1.4 trillion.

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Bitcoin Recovers Over $5,000 as Crypto Market Cap Rebounds $200 Billion (Market Watch)

by CryptoPotato

No boring days in crypto as bitcoin went through a roller-coaster with a few thousand-dollar moves down and up. The alternative coins also recovered some of the losses, with the entire market cap regaining $200 billion since yesterday’s low.

Bitcoin Reclaims More Than $5K

It all seemed calm during the weekend when BTC stood in a range of around $35,000 – $36,000. However, the cryptocurrency rarely likes to stay still, and its ever-volatile nature reemerged in the past 48 hours.

The bears took the main stage initially and pushed the asset south vigorously. In a matter of hours, bitcoin lost more than 20% of its value, dumped below $30,000 for the first time since January, and kept falling to a low beneath $29,000.

At this point, though, the bulls stepped up. They reversed the price trajectory rather fast and sent the cryptocurrency north. Bitcoin recovered more than $5,000 of value and currently trades at about $34,000.

Its market capitalization has increased above $600 billion once again, and its dominance has risen to just shy of 47%.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Altcoins’ Recovery Session

The alternative coins suffered even more than their leader during yesterday’s crash. Ethereum went from nearly $2,300 to a low beneath $1,700. This became ETH’s lowest price tag since March. However, it has also bounced off by adding $300 of value and currently stands around $2,000.

Binance Coin lost more than $100 in a day, from $340 to $220. Nevertheless, BNB’s performance has mimicked that of ETH, and the cryptocurrency is now just shy of $300.

On a 24-hour scale, most other larger-cap alts are also well in the green. Cardano is 9.5% up to $1.3, XRP (7%) is at $0.65, and DOGE pumped by 11% to $0.22.

Polkadot (3.5%), Uniswap (10%), Bitcoin Cash (-5.5%), and Litecoin (3.5%) have also recovered some ground. Solana is the most impressive performer, with an 18% surge to above $30.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

More gains come from Celo (30%), Livepeer (18%), Helium (17%), Compound (14%), Filecoin (11%), Chiliz (11%), Maker (10%), Zcash (10%), Enjin Coin (10%), and Aave (10%).

Ultimately, the cumulative market capitalization has added more than $200 billion since yesterday’s low and is close to $1.4 trillion now.

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Crypto Markets Rebound $300 Billion: Bitcoin Above $36K Again (Market Watch)

by CryptoPotato

After another trading day of pain for the bulls, bitcoin has bounced off and jumped over $36,000. Most alternative coins continue their suffering, which is evident by BTC’s market dominance. The metric is up by more than 5% in days and is above 45%.

Bitcoin Jumps Above $36K

The primary cryptocurrency has been on a downfall for the past few weeks, and the situation didn’t really change during the weekend. More FUD coming from China, this time connected with miners located in the nation, intensified the market disruptions.

Bitcoin slumped from 42,000 to below $34,000 in hours on Friday and Saturday. While it attempted a brief recovery, the bears kept the pressure on and pushed it further south.

In the past 24 hours, BTC dumped to just over $31,000 after some mining pools halted their operations in China. Nevertheless, the bulls intercepted this move and reversed the trajectory.

Bitcoin initiated an impressive leg up that resulted in adding roughly $6,000 of value. As a result, the cryptocurrency touched $37,000 and currently stands near that level.




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BTC’s market dominance has reacted positively and has increased well above 45%. The metric comparing bitcoin’s market cap with all other altcoins dumped below 40% a few weeks back, but the alts have suffered even more throughout this crash.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ETH Over $2K and BNB Nears $300

As mentioned above, the alternative coins didn’t enjoy the past few weeks. Ethereum is among the most substantial losers as it traded above $4,400 earlier in May. However, the adverse developments drove the second-largest cryptocurrency south hard.

In the past 24 hours alone, ETH dumped to $1,750, which became the asset’s lowest price point since late March. However, it has recovered some ground, reclaimed $2,000, and currently stands just shy of $2,300.

Binance Coin also fell hard yesterday as it nosedived to $210. This became the asset’s lowest trading price since early March. Similarly to ETH, though, BNB has reacted well since this dump and has neared $300.

Most larger-cap altcoins mimicked these moves. On a 24-hour scale, though, DOGE (-2%), Ripple (-3.5%), and Polkadot (-5%) are still in red. In contrast, ADA (5%), Bitcoin Cash (2%), Stellar (15%), and Chainlink (7%) have increased in value.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Even more impressive recovery sessions come from Polygon (45%), Maker (40%), Mdex (32%), Helium (30%), Harmony (22%), THORChain (17%), Fantom (15%), IOTA (12%), OKB (12%), Stacks (10%), and more.

Ultimately, the cumulative market capitalization of all crypto assets is up by $300 billion from yesterday’s low to over $1.5T now.

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Crypto Market Cap at a New ATH as Bitcoin Tapped $58K (Market Watch)

by CryptoPotato

After dipping to $56,000 yesterday, bitcoin has added $2,000 of value and touched $58,000. Ethereum’s latest ATH at $3,100 and numerous other pumping altcoins helped the crypto market cap gain more than $70 billion in a day to a new record just shy of $2.3 billion.

Bitcoin Taps $58K

After reaching a 2-week high at $58,500 a few days ago, the primary cryptocurrency started to retrace slightly. In the following 48 hours, bitcoin dropped by more than $2,500, resulting in testing $56,000 once more.

As reported yesterday, BTC had troubles at that particular level again. However, the bulls took over at that point and pushed the asset upwards.

As a result, bitcoin added more than $2,000 of value in a matter of hours and reached $58,400. Despite retracing with a few hundred dollars since then, BTC is still about 2% up on a 24-hour scale.

The technical indicators suggest that the first resistance line in bitcoin’s way up is at $58,355, followed by two rounded-number ones at $59,000 and the old nemesis $60,000. Alternatively, bitcoin could rely on the support levels at $56,950, $56,400, and $55,400 if it retraces once again.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ETH’s Latest ATH Comes at $3,100

When it comes down to the alternative coins, Ethereum has been stealing the shows for several consecutive days. The second-largest crypto marked multiple new records, leading to breaking another milestone hours ago by tapping $3,000 for the first time.

However, ETH wasn’t satisfied with just reaching a round-number and added more than $100 again for another record at over $3,100.

Binance Coin (2.5%), Ripple (1.5%), Cardano (1%), Polkadot (3%), Litecoin (1.3%), Chainlink (1%), and Dogecoin (0.5%) are also in the green. Uniswap is the most substantial gainer, with an 11% pump to over $44.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

From the lower- and mid-cap altcoins, Venus leads the way with a 26% surge to over $125. Maker (19%), Ontology (12%), Waves (12%), Polygon (10%), Helium (10%), Theta Fuel (10%), Terra (10%), and Neo (10%) follow suit.

Ultimately, the cumulative market capitalization expanded by $70 billion in a day and $250 billion in four days to a new record of approximately $2.280 billion, according to CoinMarketCap.

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Market Watch: ETH Came Inches Away From New ATH as Bitcoin Dips To $52.5K

by CryptoPotato

Bitcoin’s price continues to suffer as the asset dipped by almost $5,000 in the past 24 hours. Despite recovering some ground, its dominance is agonizingly close to breaking below 50% as some altcoins, including Ethereum and Uniswap, have charted notable gains against the dollar and BTC.

Bitcoin Slumps to $52,500

The primary cryptocurrency is still unable to shake off the losses registered during the weekend when it plummeted to a 3-week low of $51,500. In the next few days, BTC attempted to surge higher but failed at $57,500 on Monday and $57,000 yesterday.

The latest rejection that came less than 24 hours ago pushed bitcoin further south. Since then, the cryptocurrency dumped by about $4,500, leading to a low of $52,500 (on Bitstamp).

So far, bitcoin has bounced off and has regained $2,000 of value, and its market capitalization is back above $1 trillion. However, JPMorgan analysts outlined concerns indicating that the asset risks falling even harder if it fails to overcome $60,000 anytime soon.

The latest adverse price developments have harmed bitcoin’s dominance over the market again. The metric comparing BTC’s market capitalization with all other crypto assets is down to just north of 50% – a new 2-year low.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts Retrace but Not ETH

Most alternative coins have followed their leader with steep retracements in the past 24 hours. Binance Coin, which surged above $600 yesterday, has slumped by more than 8% and is down to $560.

Ripple (-7%), Cardano (-3.5%), Chainlink (-2%), Dogecoin (-14%), and Bitcoin Cash (-4%) are also well in the red from the largest-cap altcoins.

In contrast, comes Ethereum’s jump to $2,500 earlier today. Although ETH failed to breach its ATH record and has retraced with about $30, the second-largest cryptocurrency is still more than 6% up on a 24-hour scale.

Uniswap has also pumped hard since yesterday. A 15% surge has driven UNI to north of $36.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Somewhat expectedly, more fluctuations are evident from the lower- and mid-cap altcoins. Celo (-15%), Bitcoin Gold (-12%), Ontology (-11%), Siacoin (-10%), Vechain (-10%), Qtum (-9%), and IOST (-8%) have lost the most.

On the other hand, Maker (32%), DigiByte (27%), Polygon (18%), Solana (17%), Compound (13%), and Aave (10%) have gained the most.

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Bitcoin Slumps Below Previous ATH: ETH Reached $2550 (Market Watch)

by CryptoPotato

After nearing $64,000, bitcoin’s price has plummeted by about $3,000 in a matter of minutes and tested $61,000. Most altcoins have followed along south with the apparent exception of Dogecoin. DOGE has painted a new all-time high at $0.3 after a triple-digit price surge.

Bitcoin Falls by $3K

The primary cryptocurrency had a mainly bullish week in which it finally overcame $60,000 and went on to register consecutive all-time highs. Following the latest one at just shy of $65,000, however, the asset reversed its price trajectory.

As reported yesterday, BTC dipped to an intraday low beneath $61,500. The cryptocurrency bounced off initially and spiked to nearly $64,000 hours ago.

However, the situation has reversed since then, and BTC slumped by roughly $3,000. As such, bitcoin dipped to $61,000 but has recovered some ground and currently stands at $61,500.

Furthermore, the asset’s market dominance keeps registering new lows. After breaking below 53% yesterday, the metric comparing bitcoin’s market capitalization with all other cryptocurrency assets has declined even more to just north of 52%.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Larger-Cap Alts in Red But Not DOGE

Most of the largest cap altcoins also enjoyed the past several days with new all-time highs. Such was the case with Ethereum, which skyrocketed to roughly $2,550 for its latest record in the past 24 hours. However, similarly to its leader, ETH has declined steeply by more than $140 and currently sits around $2,400.

Despite intraday pumps, Binance Coin, Ripple, Cardano, Polkadot, and Uniswap are also well in the red. On the other hand, Litecoin (4%) and Chainlink are slightly in the green.

However, Dogecoin is once again the most spectacular performer. Everyone’s favorite meme coin skyrocketed by more than 100% earlier today and touched $0.3 for a new all-time high. Despite retracing to $0.25 in the following hours, DOGE has reaffirmed its spot in the top ten and is currently the 8th largest crypto by market cap.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

More gains come from Ethereum Classic (36%), Horizen (30%), Curve DAO Token (26%), Chiliz (26%), Maker (22%), Neo (14%), Qtum (13%), and Bitcoin Cash (12%).

Although some coins have marked substantial losses as well, such as KuCoin Shares (-15%), WazirX (-14%), THORChain (13%), Klaytn (-13%), and more, the total crypto market cap has remained above $2.2 trillion.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




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The Calm After The Storm: Bitcoin Reclaims $46K Following Bloody Weekend (Market Watch)

by CryptoPotato

Following a bloody weekend and a drop to $43,000, BTC has bounced off and has added about $3,000 to its value. Most alternative coins have also reacted positively after yesterday’s lows, with Ethereum above $1,400 and BNB to $220.

Bitcoin Spikes Above $46,000

The past several days didn’t go well for the primary cryptocurrency as the bears had tight control and pushed the price south. Yesterday was no exception as BTC kept gradually decreasing in value, which led to a low of just over $43,000 (on Bitstamp). This was the lowest price tag bitcoin had seen in over three weeks.

Furthermore, reports emerged that BTC miners had disposed of their coins, which was the primary reason behind the price movements.

The situation seems more positive since then as bitcoin bounced off and added nearly $4,000 of value to almost $47,000. Nevertheless, the cryptocurrency has retraced slightly and currently sits around $46,000.

This particular level is actually BTC’s first resistance line on its way up, according to the technical aspects. Should the asset conquer it decisively, the following obstacles are at $48,000 and $50,000. Alternatively, the support lines at $44,750, $44,000, and $42,760 could assist if the price plummets again.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Altcoins in Green; ETH North of $1,400

Most alternative coins also suffered in the past week or so. Ethereum, which marked a new ATH above $2,000 less than ten days ago, dumped to $1,300. After this 35% price drop, though, ETH has regained some value in the past 24 hours and trades at $1,430.

Cardano (6%), Binance Coin (6%), Ripple (3%), Litecoin (5%), and Chainlink (5%) have also pumped since yesterday. Polkadot has surged the most with a 9% increase to nearly $34.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

More gains are evident from Fantom (35%), Ravencoin (30%), Polygon (29%), Venus (26%), Voyager Token (22%), PancakeSwap (18%), Solana (18%), Aave (18%), Maker (15%), and Reserve Rights (14%).

Ultimately, the cumulative market capitalization of all cryptocurrency assets has added $90 billion since yesterday’s low and is above $1.4 trillion.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




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Bitcoin Dominance At 3-Month Low As BNB And Chainlink Paint New ATH (Market Watch)

by CryptoPotato

After a tumultuous day of trading, bitcoin now seems calm around $37,500. However, its dominance continues to suffer and has dropped below 61% as several altcoins have outperformed their leader. Those include Ripple and Cardano, and new all-time highs for Binance Coin and Chainlink.

The Newest Records Among The Alts

While Ethereum (-1%), Bitcoin Cash (-1%), Polkadot (-2.5%), and Litecoin (-2%) have charted minor losses in the past 24 hours, the other top 10 altcoin representatives have painted impressive gains.

Ripple and Cardano lead with similar 13% increases. As a result, XRP has neared $0.45 just a few days after dipping to $0.34. On the other hand, ADA has marked another 3-year high of about $0.50.

Binance Coin and Chainlink have headed for new all-time high records. Following a 9% jump on a 24-hour scale, BNB reached $58, while Chainlink’s 7% pump took the asset to $27.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

As it typically happens, the lower- and mid-cap altcoins have displayed even more fluctuations. 0x leads with a 75% surge since yesterday and 130% in seven days. Consequently, ZRX has risen to $1.4.

More DeFi-related coins follow, including Maker (35%), Terra (29%), Ocean Protocol (28%), Ren (26%), Kyber Network (26%), Alpha Finance Lab (24%), and Synthetix (20%).

Ultimately, the total market cap has remained close to the all-time high at almost $1.150 billion.

Bitcoin’s Dominance Suffers

And while most alternative coins have enjoyed the past 24 hours with substantial gains, BTC has failed to display any significant increases. The primary cryptocurrency headed towards $39,000 but to no avail, and the subsequent rejection drove it down to a low of $36,200.

Nevertheless, bitcoin bounced off as the bulls drove the asset to its current position of about $37,600. As such, the rising alts have continued to reduce BTC’s dominance, which is now beneath 61% (on CoinMarketCap). This is the lower percentange since late November 2020. Just last Friday, the metric had increased to a high above 65%.

From a technical perspective, bitcoin has to overcome the resistance lines at $38,000, $38,800, and $39,190 before potentially challenging $40,000. Alternatively, the support levels at $37,000, $36,000, and $35,140 could assist in case of another price breakdown.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView


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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




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DeFi Explosion: Binance DeFi Index Hits ATH as Total Value Locked Eyes $25 Billion

by CryptoPotato

The decentralized finance sector continues to grow with an impressive all-time high of over $24 billion locked. Additionally, the Binance DeFi Composite Index, measuring the performance of numerous DeFi coins, also marked a new ATH today.

Binance DeFi Index To New Highs

Launched in August 2020, the DeFi Composite Index tracks and measures the performance of “a basket” of DeFi assets in what the company described as a “standardized way.”

“The composite price indices are combinations of different underlying instruments intended to measure the overall market (or subset) performance over time. The indices price is usually calculated as a weighted average price of the components.”

It’s worth noting that the Binance DeFi Composite Index tracks DeFi tokens listed on the leading exchange and is denominated in Tether (USDT).

Some of the coins with the largest shares in the index include LINK (14%), YFI (7.5%), MKR (7%), Uni (6.5%), AAVE (6%), SNX (6%), and COMP (4.8%). Naturally, as the prices of most DeFi tokens have exploded recently, so has the index.

Earlier today, it jumped to an all-time high of $1,261.5. Although it has retraced slightly since then to $1,230, this is still a 70% increase from the bottom last week during the Monday crash.

Binance DeFi Composite Index Price Performance. Source: Binance
Binance DeFi Composite Index Price Performance. Source: Binance

TVL Above $24B For A New Record

The total value locked in various DeFi projects is another indicator of the sector’s growth. As of writing these lines, it has skyrocketed to a new record of $24.57 billion.

This amount represents the dollar equivalent value of all cryptocurrency assets locked in smart contracts on decentralized lending and borrowing platforms.

Total Value Locked In DeFi Projects. Source: DeFiPulse
Total Value Locked In DeFi Projects. Source: DeFiPulse

The DeFi sector exploded in popularity last year. As the graph above illustrates, the TVL dabbled with $1 billion for several months before it finally conquered it in the summer. However, it hasn’t looked back since and has only broken above other milestones.

Interestingly, the lending platform Maker has surpassed the most widely-used decentralized exchange Uniswap and has taken the first spot with nearly $4.2 billion.

Aave takes the third spot with $3.4 billion, followed by Compound ($3 billion), Curve Finance ($2.08 billion), and SushiSwap ($2 billion).

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