Ethereum blockchain's native asset Ether (ETH) touched a new record high on Nov. 8, supported by a rally across the top cryptocurrencies ahead of a key U.S. inflation report this week. ETH price rose by 3.30% in the past 24 hours to $4,770 for the first time in history as Bitcoin (BTC) reclaimed $66,000, demonstrating the strong positive correlation between the two digital assets. Inflationary pressure returns Wall Street economists anticipated the U.S. consumer price index (CPI) to rise to 5.8% in October ahead of the Bureau of Labor Statistics' inflation report on Wednesday. That would log a step up …

Solana (SOL) surpassed Cardano (ADA) and leading stablecoin Tether (USDT) to become the fourth-largest cryptocurrency by market capitalization. At press time, the net worth of total SOL tokens in circulation was a little over $76 billion, falling only behind Binance Coin's (BNB) $109 billion, Ether's (ETH) $540 billion, and Bitcoin's (BTC) $1.17 trillion. Meanwhile, Cardano and Tether's market cap came out to be $66.39 billion and $74.42 billion, respectively. $100M fund launch boosts SOL's bullish outlook Solana's market capitalization surged as its native token, SOL, rose to yet another record high. On Nov. 7, the SOL price crossed above $262 …

In crypto trading we often see entire sectors move in tandem. DeFi coins may all curve upwards together, while metaverse tokens soared on news that Facebook’s getting a Facelift. But this week’s group of top crypto performers have very little in common... except one trading indicator that lit up in pulsating green neon letters before their prices trended upward. We’re looking today at: Polygon (MATIC) — a layer-2 scaling solution for Ethereum Aave (imaginatively, AAVE) — a decentralized finance (DeFi) asset Voyager (VGX) — a crypto trading platform Koinos (KOIN) — a feeless foundational blockchain built for scalability Linear (LINA) …

Stablecoins and their use in decentralized finance (DeFi) have played a key role in the 2021 cryptocurrency bull market because allow investors to participate in the ever-growing number of protocols that offer high yield staking pools and they ease the process of transacting without needing to use a centralized exchange. One project that has seen a significant amount of adoption thanks to its focus on creating a truly decentralized ecosystem and asset-backed stablecoin is the Abracadabra.money DeFi protocol and its native SPELL token. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.0114 on Oct. …

It took just four minutes for a relatively unknown cryptocurrency to rise by over 5,600% as of Nov. 5, according to data from CoinMarketCap. Dubbed Phoenix Global (PHB), the token soared from $0.02057 to as high as $1.1413 Friday, with its volume surprisingly dropping from $3.79 million to around $777,680 in the same period. Nonetheless, at the core of the massive PHB pump was a token migration and a technical glitch. Fake PHB pump? In detail, Phoenix Global announced September that it would shift its enterprise decentralized application solutions from the Neo blockchain to Binance Smart Chain (BSC). In doing …

High transaction fees have been a persistent thorn in the side of investors and blockchain projects since at least 2014 when Ethereum Network co-creator Vitalik Buterin stated in reference to Bitcoin, “The ‘Internet of Money’ should not cost $0.05 per transaction. It's kind of absurd.” Fast forward to November 2021 and the simple act of approving a token so that it can be transacted on Uniswap can cost as much as $50 worth in Ether (ETH) depending on the time of day. Even layer-2 solutions, which were billed as the protocols that would help solve the fee issue, have been …

The bullish optimism seen earlier in the week was dialed back on Nov. 4 after recent comments from U.S. Federal Reserve Chairman Jerome Powell confirmed that the central bank would soon start to taper its monetary policy of easing and bond buying. These statements appear to have kicked off a series of price decreases across the crypto market and both Bitcoin (BTC) and Ether (ETH) are under pressure at the moment. Data from Cointelegraph Markets Pro and TradingView shows that the price action for BTC flashed a warning when the price briefly dipped to $60,400 on Nov. 3 and currenlty …

The blockchain gaming ecosystem has seen explosive growth over the course of 2021 as nonfungible tokens (NFT) and the play-to-earn gaming model helped create new income opportunities for people around the world while also ushering in a new cohort of users to the cryptocurrency sector. One project involved in gaming and the building of the Metaverse is The Sandbox (SAND), a blockchain-based virtual world where users to create, build, buy and sell digital assets in the form of a game. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.70 on Oct. 27, the price …

Solana's (SOL) autumn rally continued on Nov. 3 with its price and market cap hitting a new record high. SOL surged by 7% in the past 24 hours to $236, pushing its market capitalization to over $70 billion for the first time in history. As the token wobbled near its record high levels, it flipped Cardano (ADA) briefly to become the world's fifth-most valuable crypto asset. Currently, SOL's market cap was around $69.37 billion, just $500 shy of ADA's $69.87 billion market valuation. Solana rallies on NFT craze Solana battling for the top-five cryptocurrency spot came on the heels of …

During bull markets, altcoins tend to accrue gains when Bitcoin price consolidates and at they run in tandem with BTC price during breakouts. This dynamic appears to be at play today because multiple altcoins went parabolic at the same time that BTC made a run at $64,000 and Ether (ETH) hit a new all-time high above $4,500. According to data from Messari, 31 tokens have established new record-highs in the past 24-hours and the total cryptocurrency market cap increased from $2.619 trillion to $2.732 trillion overnight. Let's take a closer look at the motivating factors behind the rallies in LCX …

Polkadot (DOT) looks poised to rally toward $100 in the coming sessions as it triggers a classic bullish reversal setup. Dubbed Inverse Head and Shoulders (IH&S), the technical structure appears when an instrument forms three troughs in a row, with the middle one, called the Head, being the lowest, and the other two — known as the right and left shoulders — of almost equal heights. Meanwhile, the level at which all the troughs top out represents the "neckline." So it appears DOT has been forming an IH&S ever since its price correction from the $43-$49 price range (neckline), as …

A cryptocurrency inspired by Netflix's internationally hit TV show "Squid Game" scammed investors in what appears to be a $3.38 million "rug pull" scheme. Dubbed "SQUID," the cryptocurrency plunged to almost a fraction of a cent minutes after crossing over $2,850 at 09:35 UTC, Nov. 1. The deadly drop surfaced following a 75,000% bull run, showcasing a greater demand for SQUID among traders after its debut on Oct. 26. At the core of the retail craze lay the popularity of Squid Game. The scammers promoted SQUID as a play-to-earn cryptocurrency inspired by the South Korean TV fictional show in which …