Tag: Uniusdt

Market Watch: Bitcoin at $47K, DeFi-Based Tokens AAVE and UNI Spike 8%

by CryptoPotato

Bitcoin continues to consolidate around $47,000 after failing to overcome $48,000 hours ago. Most altcoins are also untypically calm since the start of the new year, with a few exceptions. Some DeFi tokens, such as UNI and AAVE, have charted more impressive gains.

DeFi Coins on the Rise

Although the altcoin space is generally known for its enhanced volatility, the first three days of 2022 have been quite the opposite as most assets have remained calm.

Ethereum continues to dabble with the $3,800 line. The second-largest crypto surpassed that level yesterday but has declined slightly since then and now sits just shy of it.

Binance Coin finds itself trading at a similar position as yesterday at around $525. Polkadot and Terra are slightly in the green, while Solana, Cardano, Ripple, Avalanche, Dogecoin, and Shiba Inu have registered minor losses.

The most significant gainers come from the DeFi industry. Yearn.Finance’s native token leads the trend with a 12% increase. As a result, YFI has surpassed $40,000.




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Aave follows with a 9% jump to $275. Uniswap is next as an 8% rise has driven UNI to above $18.

The cryptocurrency market capitalization has remained still on a daily scale at just under $2.250 trillion.

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

Bitcoin Sits Around $47K

The primary cryptocurrency last experienced high price fluctuations at the end of 2021. A sudden price pump took it from below $47,000 to a high of $48,500, but the bears were quick to intercept the move.

In the following hours, they pushed the asset down by approximately $3,000, and BTC bottomed below $46,000. As reported yesterday, bitcoin started to recover and traded around $47,000.

In the past 24 hours, BTC initiated another leg up that resulted in touching $48,000. However, it failed to breach that level, and bitcoin now trades around $47,000 once more. Consequently, its market capitalization has remained stuck below $900 billion 13 years after the network launched.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

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Community Voted, Why Uniswap Will Be Deployed On Polygon

by NEWSBTC

Popular decentralized automated market maker (AMM) Uniswap will deploy its smart contracts on Polygon, the Ethereum scaling solution, Proof-of-Stake (PoS) chain. The announcement was made via Twitter by the official handle of Uniswap Labs after the completion of a community vote.

Related Reading | Uniswap Community Reacts Against The New Proposal, Here is Why

The AMM will be rollout on Polygon on its third iteration (V3), per the initial proposal. The motion was passed with 72 million votes in favor and 503,009 against which suggest the proposal has wide acceptance within UNI holders.

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Presented on November 19th by Mihailo Bjelic, one of Polygon’s co-founders, claiming it’s “the right moment” to carry on this community driven initiative. Bjelic claimed Polygon has one of the “strongest DeFi ecosystem”, that the implementation could boost Uniswap’s user base, and promised users that they will incentive adoption to achieve that goal.

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As a scaling solution for Ethereum, Polygon can also provide users with a “battle-tested” and cost-efficient implementation of the popular AMM. In the DeFi ecosystem, Uniswap ruled supreme until high transaction fees price-out a large number of users from the protocol.

As Bjelic pointed out, other major Ethereum protocols have chosen Polygon as their preferred scaling solution. The co-founder mentioned Aave, Curve, SushiSwap, Balancer, and others while adding the following on the advantages of Polygon and its ecosystem:

Besides the impressive number of deployed projects, additional strength of Polygon’s DeFi ecosystem is that it is already self-sustainable. We effectively stopped all liquidity mining incentives some time ago, and yet we keep seeing capital and user inflow 25 and very high user retention 14.

Additional data provided by Bjelic claims that protocols deployed on Polygon experience an increase in their use base. After their implementation on this network, Aave reached 700,000 actives users, a 10x increase when compared to the same metric on Ethereum.

Uniswap And Polygon To Onboard Thousands Of New Users?

Of course, most users expect the implementation on Polygon to decrease the cost of usage for Uniswap. The co-founder of this scaling solution claimed that Aave also experienced a 16x increase in its user’s activity.

Bjelic further argued that the integration between Uniswap v3 and Polygon’s PoS will represent a comeback to the original “DeFi vision”. This sector was created to provide people with open, and inclusive financial solutions. He added:

DeFi is envisioned as an open, inclusive financial system, so deploying to Polygon (and other scaling solutions) can be considered as returning to this original vision.

Polygon will explore the possibility to commit around $20 million from their treasury to create liquidity incentives. The project abandoned this practice, but Bjelic claimed they are willing to resume for Uniswap due to its importance as one of the flagship DeFi protocols.

The funds will be distributed as follow: $15 million might be allocated for long term liquidity incentives and $5 million for a “special purpose DAO”. The goal of this organization will be to increase Uniswap adoption on Polygon.

Related Reading | Uniswap Labs Limits Access To Certain Tokens, What It Could Mean For The DeFi Sector

As of press time, UNI trades at $15,99 with 10.3% profits in the past day.

Uniswap UNI UNIUSDT
UNI trends to the upside in the 4-hour chart. Source: UNIUSDT Tradingview

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Correction Deepens as Bitcoin Trades Below $60K: Market Watch

by CryptoPotato

The situation in the crypto market worsened in the past 24 hours as bitcoin dropped below $60,000 for the first time since late October. Aside from a few exceptions, most of the altcoins bled out as well, with massive price dives from Binance Coin, Solana, Cardano, Terra, Litecoin, and more.

Bitcoin Sits Below $60K

Precisely a week ago – on November 10th – the primary cryptocurrency was riding high and reached a new record of $69,000. A lot can change in seven days in the cryptocurrency market, however.

Instead of challenging $70,000, the asset reversed its trajectory and dumped by several thousand dollars in hours. It calmed around $65,000 briefly and even jumped above $66,000 on Monday, but it was short-lived.

As reported yesterday, bitcoin plummeted to just over $60,000, thus losing $6,000 in a day. Since then, though, the situation has intensified even more, and the cryptocurrency dumped blow $60,000 for the first time since October 28th.

Moreover, BTC fell to $58,600 (on Bitstamp) before recovering several hundred dollars. As of now, it still stands way below $60,000, and its market capitalization is down to $1.120 trillion.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Altcoins in Red

The alternative coins have also suffered in the past few days. Ethereum is down by another 3.5% since yesterday and trades below $4,200. A week ago, the second-largest crypto saw a record of its own at nearly $4,900, but it’s down by more than $700 since then.

Binance Coin was also riding high amid the new projects getting launched on its platforms. The token surged to a six-month high above $650. Now, though, BNB is down to $560 after another $8.5% decline.

Solana, Cardano, Polkadot, Shiba Inu, Terra, Litecoin, Chainlink, Ripple, and Dogecoin are also deep in the red. In contrast, Avalanche and CryptoCom’s coin are the only two in the green from the larger-cap ones. AVAX is up by 6% to $96, while CRO’s 6.5% increase has driven it to $0.45.

The Sandbox and IOTA have also charted some gains in the past 24 hours, with SAND trading at $3.3 and IOTA nearing $1.4.

However, UMA (-16%), Livepeer (-15%), KuCoin Token (-13%), Zcash (-12%), PancakeSwap (-12%), ICON (-11%), VeChain (-10%), and more, are all in the red.

Thus, the crypto market cap is down by $100 billion once again to $2.7 trillion on CoinGecko.

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

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Crypto Market Cap Lost $100B in a Day as Bitcoin Dropped to a Weekly Low

by CryptoPotato

The bears continued to push bitcoin south in the past 24 hours, and the asset dropped to a weekly low of just over $62,000. Most altcoins are also in the red, with Litecoin losing the most value in a day.

Bitcoin Saw a Weekly Low

Just a few days ago, the primary cryptocurrency broke its previous ATH two times in a row, and the latest peak came at $69,000.

As the community was anticipating another run up to $70,000, the entire landscape changed. Instead of going upwards, bitcoin headed straight south. In just a matter of hours, BTC lost more than $6,000 of value to an intraday bottom of $63,000.

It bounced off initially and went above $65,000, as reported yesterday. However, this price increase was also short-lived, and the bears drove it downwards once more. This time, the cryptocurrency fell to $62,300 (on Bitstamp), which was the lowest price point since November 7th.

As of now, bitcoin has recovered more than $1,000, and its market capitalization has reclaimed $1.2 trillion.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts Retrace as LTC Dumps Hard

The alternative coins have also seen better days, which weren’t that long ago. Ethereum tapped its latest ATH a few days ago at nearly $4,900. Since then, though, ETH has lost roughly $300 and currently struggles to remain above $4,600.

Solana also reached a new peak recently at $260, but it’s down to $225 as of now. On a 24-hour scale, Ripple, Polkadot, and Dogecoin are also slightly in the red, while Shiba Inu has lost more than 3% of value and stands just over $0.00005.

Litecoin has lost the most from the larger-cap alts. LTC is down by nearly 10% in a day to $250.

In contrast, Binance Coin, Cardano, and Terra have seen minor gains. Avalanche is up by 3.5% and has neared $90 once more.

Some of the lower- and mid-cap alts have produced more significant gains. Those include Decentraland (21%), IoTeX (20%), The Sandbox (20%), Chilliz (15%), CRO (11%), and Helium (10%).

The cryptocurrency market has lost $100 billion in a day and has dropped to $2.9 trillion on CoinGecko.

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

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Bitcoin Slips Below April ATH: Altcoins Deep in Red (Market Watch)

by CryptoPotato

After yesterday’s enhanced volatility, bitcoin remained calm around $65,000 but has headed south once more. Most altcoins have also bled out, with massive losses coming from Solana, Cardano, Ripple, Polkadot, and more.

Bitcoin Drops to $64K

The past several days were going well for the primary cryptocurrency, which spiked from $60,000 to $66,000 on November 8th. It went even further and broke the October peak of $67,000.

Bitcoin actually registered two consecutive all-time highs, with the latest coming at $69,000 on November 10th. This is where the landscape changed, though, and in just a matter of hours, the asset plummeted by several thousand dollars to a daily bottom of $63,000.

After causing mass pain for leveraged traders, BTC bounced off and calmed around $65,000. It ranged around that level for a while before it dropped to $64,000 minutes ago, where it’s currently situated as well.

Its market capitalization has remained just over $1.2 trillion, and the dominance over the altcoins stands above 43%.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts in Green, Not SHIB and ALGO

Most alts have mimicked BTC’s performance as of late. Ethereum also charted a new all-time high at nearly $4,900 two days ago but dumped by several hundred dollars and bounced off somewhat immediately. As of now, ETH is in the red again with a minor 1.3% daily drop.

Binance Coin and Dogecoin have marked similar price dips, with BNB sitting at $620 and DOGE trading at $0.25.

More losses are evident from Solana (-6%), Cardano (-5%), Ripple (-5%), Polkadot (-7%), Terra (-6%), and Avalanche (-4.5%).

Shiba Inu and Algorand are the only two coins in the green. SHIB has seen a minor 2% increase, while ALGO is up by 6% to $2.15.

Decentraland is the most significant gainer on a 24-hour scale with a massive 16% surge. In contrast, OMG Network is down by 27%, followed by IoTeX (-18%), Loopring (-12%), Livepeer (-11%), Helium (-10%), and OKB (-10%).

The total crypto market cap is down by $100 billion in a day and is well below $3 trillion on CoinGecko as of now.

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

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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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After The Latest ATH and $6,000 Drop, Bitcoin Calms at $65,000 (Market Watch)

by CryptoPotato

After setting a new all-time high at $69,000, bitcoin dumped by more than $6,000 in hours before calming around $65,000. Most alternative coins experienced similar price fluctuations, with ETH plummeting from $4,875 to $4,450.

BTC’s 24-Hour Rollercoaster

The cryptocurrency landscape seemed rather calm just a few days ago when bitcoin appeared stuck around $60,000. However, the market reminded of its volatile nature in the following days.

Firstly, bitcoin went on the offensive, added $4,000 in hours, and neared its all-time high at the time of $67,000. After a brief rejection, BTC surpassed that peak and registered a new one at $68,600.

Just a day later, though, the cryptocurrency went on another tear and charted a fresh ATH at $69,000. As the community was preparing for a run towards $70,000, the situation changed once more.

In a matter of hours, bitcoin dumped by more than $6,000 and bottomed below $63,000, resulting in multi-million dollar losses in liquidations for leveraged traders.




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As of now, the asset has recovered some ground and currently stands above $65,000. Its market capitalization is north of $1.2 trillion, while the dominance over the altcoins sits at 43%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Altcoins Follow Along

As it typically happens when there’s enhanced volatility with bitcoin, most alternative coins follow suit. Ethereum also saw a new record of nearly $4,900 yesterday before it plunged by more than $500 in hours to a weekly low of $4,450. ETH also reacted well after this drop and now stands above $4,700.

On a 24-hour scale, most alts are in the red. This includes Binance Coin (-1.5%), Cardano (-3.5%), Polkadot (-5%), Dogecoin (-4%), Shiba Inu (5%), and Avalanche (-3.3%).

Solana, Ripple, Terra, and Litecoin are slightly in the green, while Chainlink has surged by 6.5% in a day to $37.

More gains come from IoTeX (42%), Mina (24%), Kadena (18%), Helium (14%), and Zcash (11%).

The cryptocurrency market capitalization had lost more than $120 billion in a day to yesterday’s low but is now just over $3 trillion once again on CoinGecko.

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

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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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BTC Retraces Below October Highs: LTC Spikes 7% to 6-Month High (Market Watch)

by CryptoPotato

Following the latest all-time high charted yesterday, bitcoin has lost some traction and has dipped below $67,000. Most altcoins have also retraced, aside from Litecoin. LTC has marked another impressive increase and has tapped a new six-month high.

Bitcoin Calms Above $66K

During the weekend, which was just three days ago, the price of the primary cryptocurrency had dipped to $60,000. This was the third consecutive such drop in a week.

However, the situation quickly changed, and BTC started to appreciate in value rapidly. In just a day, the asset skyrocketed by $4,000 and came inches away from its October peak of $67,000.

Although it was unable to break it at first, bitcoin initiated another leg up in the following hours and peaked at $68,700, which became the new all-time high.

Since then, though, the asset has lost some ground and has now dipped below $67,000. Nevertheless, its market capitalization stands above $1.250 trillion, while the dominance over the altcoins has increased to 44%.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts Retraced But Not LTC

Most of the altcoin space also charted impressive gains in the past several days, including new all-time highs. Ethereum was one of those that saw new records at nearly $4,900. However, the second-largest crypto has also dipped since then and currently trades just over $4,700.

The rest of the larger-cap alts are also in the red. These include Binance Coin, Solana, Cardano, Ripple, Polkadot, Dogecoin, Shiba Inu, and Terra.

Avalanche, on the other hand, has increased by 3% and is close to registering yet another ATH. Nevertheless, Litecoin is the best performer here once again. LTC has surged by another 7% in the past 24 hours and has reached a new six-month high above $265.

More gains come from Loopring (52%), IoTeX (35%), Kadena (22%), Livepeer (13%), and Quant (12%).

The cryptocurrency market capitalization is down by around $60 billion in a day, but it’s still above $3 trillion on CoinGecko.

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

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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 Touched $68,600 For its New ATH: Cardano Soars 12% (Market Watch)

by CryptoPotato

It took bitcoin less than three weeks to break its own ATH of $67,000 and set a new one at nearly $69,000. Ethereum followed suit and painted a new record as well, while Cardano has gained the most from the larger-cap alts with a 12% surge.

BTC’s New ATH Came Hours Ago

Just three days ago, the primary cryptocurrency struggled at around $60,000, and the community wondered if it will be able to remain above that level for long.

However, a lot can change in the market for three days. Instead of dipping below $60,000, bitcoin went on the offensive and started to gain value rapidly.

As reported yesterday, BTC skyrocketed by several thousand dollars and reached $66,000. It was inches away from breaking its record at $67,000. After spending some time below that line, it finally did so and charted a new peak at $68,600 (on Bitstamp).

As of now, BTC has retraced by a few hundred dollars, but its market capitalization is just shy of $1.3 trillion. The dominance over the altcoins has increased slightly to 43.7%.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ETH New ATH: ADA Up 12%

The second-largest cryptocurrency also saw a new record in the past 24 hours. A few days ago, ETH had dipped below $4,500, but the bulls stepped up and pushed it north. The latest leg up resulted in Ethereum touching $4,860, which became the new ATH.

Binance Coin, Solana, Ripple, and Polkadot are also slightly up on the day. Shiba Inu and Terra have added around 4% of value. Cardano has surged the most from the top ten coins, with a 12% increase to nearly $2.3.

Litecoin, on the other hand, has skyrocketed by 19% in a day to $250. In contrast, Dogecoin and Avalanche have marked minor losses.

Further gains come from Livepeer (56%), Loopring (39%), Basic Attention Token (23%), Helium (23%), Dash (13%), VeChain (13%), Curve DAO Token (11%), and The Graph (10%).

According to CoinGecko, the cryptocurrency market cap saw a new record as well at around $3.1 trillion.

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

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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 Skyrockets Above $66K as Ethereum Tapped New ATH at $4,800 (Market Watch)

by CryptoPotato

Following a few days of consolidation, bitcoin finally made a decisive move and shot up by $4,000. While BTC came inches away from its all-time high at $67,000, ETH actually broke its own at nearly $4,800.

Bitcoin Nears ATH

The primary cryptocurrency was relatively stable in the past few days after it failed to breach $64,500 at the start of the month. The bears took control and gradually pushed the asset south.

BTC bottomed at $60,000, with the latest such dip coming on Saturday. As reported yesterday, it recovered some ground and consolidated around $62,000.

Since then, though, the situation has changed a lot. Bitcoin registered an impressive leg up and added more than $4,000 of value in just a matter of hours. This culminated ti tapping $66,400 – the highest price line in three weeks.

Moreover, BTC came less than 1% away from its ATH of $67,000. As of now, it has retraced by a few hundred dollars but still stands above $66,000.




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Its market capitalization has risen to $1.250 trillion, and the dominance over the altcoins is up by almost 1% in a day to 43.5%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ETH and AVAX See New ATHs

While BTC is yet to register a new record, ETH has done so. The second-largest crypto was also stagnant in the past few days, but it followed bitcoin upwards today and marked a new ATH at just shy of $4,800. Despite retracing slightly since then, ETH is still 4.5% up on the day.

Solana, Polkadot, and Terra are slightly in the red, while Binance Coin has lost 3.5% in the past 24 hours. BNB was among the best performers since the start of the week and is up by 20% on a 7-day scale.

Cardano (3%), Ripple (8%), Dogecoin (9%), and Chainlink (4.5%) have charted substantial gains. Nevertheless, Avalanche is the most significant gainer with an 11.5% surge. As a result, AVAX also tapped a new ATH at $95.

More fluctuations come from Kadena (19%), OKB (15%), CRO (14%), KuCoin Token (12%), Loopring (11%), ICP (10%), and Bitcoin Gold (10%).

As a result, the cryptocurrency market capitalization reached $3 trillion for the first time ever, at least according to CoinGecko.

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

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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 Consolidation Continues: BNB Crossed $100B Cap Nearing ATH (Market Watch)

by CryptoPotato

Bitcoin’s indecisive price movements have continued in the past 24 hours, with the cryptocurrency staying above $60,000. Binance Coin has been among the best performers from the larger-cap alts as the asset has neared its ATH.

BNB Eyes New ATH; AVAX Up 12%

Most alternative coins were slightly in the red yesterday, as reported, but the landscape is relatively different today. Ethereum had fallen below $4,500, but a minor 2% increase on a 24-hour scale has driven the second-largest cryptocurrency to above that level.

Solana has touched $250 after a similar price pump. Polkadot has marked another all-time high after a 5% surge since yesterday. Dogecoin, Ripple, and Terra are also in the green.

Avalanche has gained the most from yesterday and also saw a new record above $85.

Binance Coin, on the other hand, has performed well in the past several days. Another 8% increase in a day has driven BNB to $670, which is the highest price level since mid-May. The asset is just inches away from marking a new ATH of its own, while its market capitalization has risen well above $100 billion.




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Further gains come from Kadena (50%), Helium (18%), OKB (10%), Chiliz (10%), and Loopring (9%).

As such, the crypto market cap has added about $40 billion since yesterday and is close to $2.750 trillion.

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

Bitcoin’s Consolidation Continues

While some alternative coins have registered impressive gains and new all-time high records, bitcoin has been relatively calm in the past week, especially since it started retracing from the mid-week peak at $64,000.

The cryptocurrency fell to $60,000 shortly after when inflation news emerged from the US but recovered just as quickly. It has remained in a range between that coveted level and $63,000 for the most part, and even the controversial US infrastructure bill passing in Congress couldn’t move it a lot.

After an unsuccessful attempt to overcome $62,500, BTC has returned below $62,000 once more. Its market capitalization has reclaimed $1.150 trillion, while the dominance over the alts has been further reduced to just over 42%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

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Cryptocurrency charts by TradingView.





Source

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Bitcoin (BTC) $ 26,911.21 0.53%
Ethereum (ETH) $ 1,667.49 0.77%
Litecoin (LTC) $ 66.15 1.72%
Bitcoin Cash (BCH) $ 234.47 1.51%