In A Nutshell Bitcoin’s Bollinger Bands, a key volatility indicator, have reached levels similar to those seen in mid-February, hinting at a possible significant price movement for Bitcoin (BTC). Currently, the cryptocurrency’s price hovers near $66,000, with market dynamics indicating a tight trading range. This situation is shaped by both internal market structures like the…
In A Nutshell Ripple’s XRP recently saw a modest rally, overcoming a significant price drop to reclaim the $0.5 mark. Despite this recovery, obstacles and trader skepticism persist, providing a complex backdrop to the cryptocurrency’s current status. Understanding the Ripple Rally Following a challenging period that witnessed a sharp 22% reduction in its value, XRP…
In A Nutshell In the rapidly evolving landscape of digital finance, fiat ramps continue to play a pivotal role in onboarding traditional Web2 users into the Web3 ecosystem. According to Aviessa Khoo, executive director at Mercuryo, despite the changing dynamics in transaction volumes from centralized exchanges to non-custodial wallets, fiat on-ramp solutions remain the most…
In A Nutshell Jesse Pollak, the creator behind Base, a Coinbase-adjacent layer-2 network, attributes a significant surge in crypto onboarding to the influence of memes. This trend, described as a “Cambrian explosion,” indicates a growing intersection between internet culture and digital asset adoption. Base has seen a substantial increase in total value locked (TVL), nearly…
In A Nutshell The Bitcoin (BTC) price has shown resilience at a critical support level, indicating a possible end to its recent selling pressure. This level, which has historically served as a foundation for bull market trends, suggests that Bitcoin may be on the cusp of a rebound. Analysts note that the return to this…
In A Nutshell The Pax Dollar (USDP), a stablecoin, recently experienced a temporary depegging from its $1 peg due to anomalies in pricing data from aggregators. This was not a result of any inherent issues within the Paxos protocol itself. Despite this hiccup, the Paxos spokesperson reassured that USDP is always redeemable for $1 through…
In A Nutshell The cryptocurrency landscape is poised for significant shifts as Bitcoin approaches its next halving event on April 19, 2024. Amidst the general market downturn, with Cardano’s (ADA) price dropping over 23% in the last week, a bullish pattern has emerged on ADA’s 4-hour chart, suggesting a potential surge. Analyzing various metrics indicates…
In A Nutshell Yuga Labs, the entity behind the renowned NFT collection known as the Bored Ape Yacht Club (BAYC), has recently divested the intellectual property of two of its games, HV-MTL and Legends of the Mara. This strategic move was made to a Web3 gaming company, Faraway. The sale aims to refocus the company’s…
In A Nutshell The anticipation surrounding Bitcoin’s upcoming halving event, set for April 20, 2024, has sparked a notable increase in market volatility. Recent analytics have highlighted a significant rise in the Implied Volatility of Bitcoin options contracts expiring in April, jumping from 62% to 75% over a single weekend, as reported by Kaiko. This…
In A Nutshell The Bitcoin market is currently witnessing a significant tug-of-war between buyers and sellers as bid liquidity increases near the $60,000 mark. This increase in liquidity is particularly noticeable following a substantial liquidation of long positions, which has led to a pressing need for a price bounce. With bid orders congregating just below…