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Bitcoin’s failed breakout to the upside shows that the range-bound action could continue for some time but that may not hinder the bullish possibilities in TON, LINK, MKR, and XTZ. Bitcoin (BTC) tried to break out of its range in the first half of last week but the bulls could not sustain the higher levels. Bitcoin is back inside the range and is trading near the $26,000 level. The price action of the past few days has formed two successive Doji candlestick patterns on the weekly chart, indicating uncertainty about the next directional move. Although it is difficult to predict the direction of the breakout, the downside could be limited in the near term on expectations that the United States Securities and Exchange Commission (SEC) may eventually approve one or more pending applications for a spot Bitcoin exchange-traded fund. Former commission chair Jay Clayton sounded confident when he said in a recent interview that “an approval is inevitable.” Crypto market data daily view. Sourc...

Meme coins reflect a higher beta to the entire crypto sector, but does their recent 25% price drop signal a deepening bear market for BTC, ETH and large caps? The recent crypto crash hit meme coins hard, culminating with a 9% drop in total market capitalization from Aug. 14 to Aug. 21. During the same period, Pepe (PEPE), Shiba Inu (SHIB), and ApeCoin (APE) saw a 25% decline. The big question is whether this trend will affect the wider market, signaling a broader bear market or simply reflects lagging performance of meme coins. Total crypto cap (blue) vs. Pepe/USDT (green), Shiba/USDT (red), Apecoin/USDT (orange), August 2023. Source: TradingView Meme coins, like Dogecoin (DOGE), burst onto the scene driven by viral memes and community enthusiasm. However, their appeal faded due to a mix of factors. These coins rely on media hype and online communities for attention, yet they lack value beyond their meme origins. Their speculative nature leads to rapid price changes and volatility. F...

The crypto market is dynamic, and the declining dominance of Bitcoin seems to be supporting emerging altcoin s. Notably, Borroe (ROE), Chainlink (LINK), and Monero (XMR) are finding support and may post gains in future sessions. As momentum shifts from the legacy coin, let’s explore what these three altcoin s bring to the table in this evolving landscape. Borroe: a funding platform for content creators and web3 As investors explore new opportunities in the market, a notable altcoin season has emerged, with Borroe leading the way as a project in the decentralized finance (defi) space aiming to reshape funding methods. Catering to the web3 community, Borroe provides a platform for content creators, artists, musicians, and others to convert future earnings into cash. Additionally, businesses can tokenize their invoices, royalties, subscriptions, and more as non-fungible tokens (NFTs) and offer them at discounted prices on the Borroe platform. Investors can purchase fractionali...

Criminals have moved away from using Bitcoin for money laundering, with stablecoins emerging as an alternative due to accessibility. Crime in Web3 is shifting away from Bitcoin (BTC) to stablecoins while ponzi schemes remain prevalent, according to Elliptic’s former head of technical crypto advisory. Tara Annison shared the latest insights from the murky world of cryptocurrency-related crime during a presentation on the final day of EthCC in Paris, addressing a wide variety of ways in which digitals assets are either facilitating crime or being used to launder funds. According to Annison, Bitcoin is no longer the cryptocurrency of choice to carry out illicit activities or launder money. As the cryptocurrency industry has matured, the establishment of decentralized finance (DeFi) protocols, mixing services and stablecoins present new avenues for criminals to explore. Source: Tara Annison. Criminals have shifted towards using dollar-denominated asset s, like USD Coin (USDC), as their ea...

Terra users are losing another round of funds due to a breach on the new DeFi platform Terraport Finance, which launched on March 31. The algorithmic stablecoin TerraUSD (UST) collapsed almost one year ago, but some Terra-related projects are still live and trying to overcome some issues. Terraport Finance, a decentralized finance (DeFi) exchange project based on the Terra Classic blockchain, suffered a breach on its liquidity wallet on April 10. Announcing the news on Twitter, Terraport said the hacker had drained all liquidity pools from the platform, causing losses of about $2 million worth of digital assets. “We are currently working with community members and major exchanges to secure as many of these funds as possible and blacklist wallets. All funds have been tracked,” Terraport stated. According to social media reports, the Terraport hacker has allegedly transferred the stolen funds to exchanges like Binance and MEXC Global. The investigators have urged the exchange’s security...

Most altcoins posted a below-par performance in March, but XRP, XLM, CFX, XDC and MASK defied the trend by posting double-digit gains. Bitcoin’s dominance over the crypto market, which represents its share of market capitalization relative to the total cryptocurrency market capitalization, rose steeply from around 44% to highs of 48% in March.  While Bitcoin’s price increased by 22.7% during the month, most altcoins yielded subpar or negative returns. However, there were some outliers which showed a second month of positive momentum. Take for example, XRP, which saw steady positive momentum as investors expect a positive outcome in its U.S. court case against the SEC. Tokens with highest 30-day returns in the top 100 by market capitalization. Source: CoinMarketCap Conflux Network Conflux Network continued its positive run from February, nearly doubling its price in March. The project’s team continued to strengthen its partnerships in China by adding XCMD, the world’s third-largest con...

The Binance CEO claimed that algorithmic USD stablecoins may become more popular as well, although they “have risks.” The crypto industry will “probably” start using euro, yen, or Singapore dollar based stablecoins in the future, reducing its reliance on US dollar based stablecoins, according to a Feb. 14 statement on Twitter Spaces by Binance CEO Changpeng Zhao, also known as “CZ.” CZ gave the statement in answer to a question about the crypto industry using gold as a standard of value instead of the US Dollar. CZ agreed that it “makes sense” to use gold. However, “most people’s costs are still in fiat currencies.” For this reason, most people calculate their investment returns in dollars, which is why US Dollar backed stablecoins are “still important.” However, CZ argued that the US government’s recent actions against US dollar stablecoins will probably lead the global crypto industry to rely on other currencies such as the Euro, Yen, and Singapore Dollar to back stablecoins, as he ...

Apple’s rumored VR headset launch appeared to fuel a sharp rally in metaverse tokens, but data suggests that the momentum is not sustainable. The metaverse hype that began in 2021 dissolved almost entirely by the end of 2022 as the top projects in the space, Decentraland, and The Sandbox, lost 95% of their market capitalization. The most prominent reason for the fall was lack of usage growth.  Still, the metaverse narrative is far from dead and will grow in the future. Reportedly, Apple will launch its VR gear sometime in spring 2023. The announcement was a positive catalyst for MANA and SAND, causing a double-digit price surge. While there’s evidence of positive buying volume supporting the pump, the weak fundamentals of metaverse platforms and overheated market indicators suggest that the price pump risks reversing quickly. The Apple pump and dump Facebook's (Meta) foray into the metaverse was one of the most prominent catalysts for metaverse tokens. The idea for Decentraland...

Join us as we discuss everything you need to know about mining crypto from the comfort of your home. Hosting the show will be Cointelegraph’s head of markets, Ray Salmond, with special guest Justin Kramer. On this week’s episode of Market Talks, Cointelegraph welcomes Justin Kramer, CEO of Badgerland Home Crypto Mining — a home-based crypto mining equipment business. This week, to kick things off, we get to know a little bit about Kramer and his mining business. What are his expertise and experience with crypto mining, and how did he gravitate toward it? We also get his take on the current market conditions and the price of Bitcoin (BTC). Doing anything from your house, whether it’s working from home or mining cryptocurrencies, comes with its own set of challenges, especially when you’re first starting out. We find out what some of those challenges are and how to overcome them. This is especially useful for anyone looking to set up their own mining rig at home. We discuss the five maj...

Bitcoin and select altcoins are showing signs of a possible recovery in the near term but higher levels may continue to attract sellers. As the year comes to an end, investors will be keenly watching for a Santa Claus rally on Wall Street as many believe that if the rally does not happen, the next year may either remain flat or turn negative.  Jurrien Timmer, director of global macro at asset management giant Fidelity Investments, tweeted on Dec. 19 that the United States equities Markets may remain “sideways” and choppy in 2023. He expects “one or more retests of the 2022 low, but not necessarily much worse than that.” Daily cryptocurrency market performance. Source: Coin360 The cryptocurrency market has been largely correlated with the S&P 500 in 2022. Unless both markets decouple, the sideways or negative action in the equities markets may not bode well for the cryptocurrency market. Analysts remain divided on the future price action for Bitcoin (BTC). While some expect a recov...