Pax Dollar Temporarily Spikes to $1.29 Amid Data Anomaly

Pax Dollar Temporarily Spikes to $1.29 Amid Data Anomaly

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…

ADA Eyes Bull Rally Ahead of 2024 Bitcoin Halving

ADA Eyes Bull Rally Ahead of 2024 Bitcoin Halving

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…

Bitcoin Volatility Spikes as Halving Nears, Says Kaiko

Bitcoin Volatility Spikes as Halving Nears, Says Kaiko

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…

Bitcoin Tug-of-War: $60K Level Sparks Rebound Hopes

Bitcoin Tug-of-War: $60K Level Sparks Rebound Hopes

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…

Bitcoin Faces Short-Term Drop, Long-Term Gain Predicted

Bitcoin Faces Short-Term Drop, Long-Term Gain Predicted

In A Nutshell Recent analyses by cryptocurrency traders suggest a potential near-term downside for Bitcoin’s price based on the movements within its Bollinger Bands, a popular technical analysis tool. Despite this short-term volatility expectation, the overall sentiment remains bullish on the long-term prospects of Bitcoin, anticipating continuous growth post-correction. Understanding Bollinger Bands and Bitcoin’s Position…

GameFi Revival: Rising Crypto Prices Fuel Growth

GameFi Revival: Rising Crypto Prices Fuel Growth

In A Nutshell The GameFi ecosystem is witnessing a significant resurgence, fueled by rising cryptocurrency prices and innovative partnerships. Notably, the daily active wallets interacting with GameFi platforms have doubled over the past year. This rejuvenation is marked by StepN’s collaboration with Adidas for a Genesis Edition NFT drop and the introduction of Web3 gaming…