Looking at the winners and losers of the past week clearly shows that traders endured some serious heat as the total crypto market capitalization dropped by 12.7% when Bitcoin fell to $41,000. This sharp downside move knocked the figure from $2.37 trillion to $1.92 trillion on Dec. 3 and a total of $2 billion long future contracts were liquidated. Bitcoin (BTC) price retraced 14.6% over the past week, effectively underperforming the broader altcoin market. Part of this unusual movement can be explained by the performance seen in decentralized applications which held up better than most of the market. Data shows …

Bitcoin (BTC) is attempting to extend its recovery by rising above the psychological mark at $50,000, but several popular analysts believe that BTC could remain range-bound for a few weeks or even months. On-chain analytics firm CryptoQuant said that Bitcoin “whales are still depositing BTC to exchanges.” This simply indicates that whales are setting themselves up to react at short notice depending on which path the price elects to take. The sharp correction of the past few days has pulled the Crypto Fear and Greed Index to 16, which indicates a sentiment of “extreme fear.” Some believe the current fall …

Following a near $200 million hack on the BitMart exchange, the Shiba Inu (SHIB) community and crypto exchange Huobi Global aim to help the exchange strengthen security and track inflows of stolen assets. On Dec. 5, crypto exchange BitMart became victim to a hot wallet compromise hosted over the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains. As a result, the hackers were able to steal over $196 million, roughly $100 million over the Ethernet network and around $96 million over the BSC blockchain. 1/3 We have identified a large-scale security breach related to one of our ETH hot wallets …

Bitcoin (BTC) and most altcoins sold off on Dec. 4 with massive deleveraging seen in the crypto derivatives markets. Data suggests more than $2.5 billion of crypto liquidations over a 24-hour period. During the recent fall, Ether (ETH) has continued to outperform Bitcoin. While Bitcoin’s market dominance has dropped below 41%, Ether has continued to gain ground and its market dominance has risen above 21%. Some analysts believe that Bitcoin’s recent decline could result in a lengthy phase of consolidation. Decentrader co-founder filbfilb expects Bitcoin to consolidate well into the first quarter of the next year. Lex Moskovski, CIO of …

The $200 million Bitmart hack was first revealed by Peckshield, a blockchain security and data analytics company, who initially identified a transfer of roughly $100 million over the Ethereum blockchain. Further investigation from the team revealed a concurrent hack of $96 million over the crypto exchange’s BSC reserves: Crypto exchange Bitmart lost nearly $200 million in a hot wallet compromise hosted over the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains. Total estimated loss: ~200M (~100M on @ethereum and ~96M on @BinanceChain ). (Previously we only counted the loss on @ethereum). And here is the list of affected assets/amounts on …

Bitcoin (BTC) traded near $47,000 on Dec. 4 after a sudden crash confirmed bulls' worst nightmares with 22% daily losses. Crypto liquidations pass $2.5 billion Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting local lows of $41,960 on Bitstamp — its lowest since Sep. 30. As panic set in, leveraged positions unwound and traders capitulated, 24-hour cross-crypto liquidations passing $2.5 billion. "$50k is likely to be resistance for a decent amount of time now unless stonks to incredible things," filbfilb, co-founder of trading platform Decentrader, summarized in a fresh synopsis after the move. "Size of dump & distribution …

Bahamian-based cryptocurrency exchange FTX released a list of principles and proposals to help policymakers build the regulatory framework. The policy recommends the market-structure choices made by several leading crypto exchanges and suggests its implementation across all jurisdictions. FTX shared the “FTX’ s Key Principles for Market Regulation” blog after Maxine Waters, the chair of the House Committee on Financial Services, invited several CEOs of major crypto firms to testify on the topic of digital assets and the future of finance. Out of the 10 key principles, one of the recommendations calls for an alternative regulatory approach that proposes a unified …

Cosmos (ATOM) has the potential to record major gains in the upcoming weeks primarily because its longer-timeframe chart is showing a bullish continuation pattern. Dubbed "bull flag," the structure appears as the asset trends lower while bouncing between two downward sloping trendlines. However, it eventually breaks out of the range, in the direction of its previous trend, with a profit target at length equal to the size of its previous uptrend which is also known as the flagpole. Therefore, in a "perfect" world, if ATOM is to break above the flag's upper trendline (with a rise in trading volume), it …

Nearly every segment of the crypto sector underwent explosive growth in 2021. The steady inflow of institutional funds could possibly be interpreted as a signal that the best is yet to come. For new users, figuring out how to obtain cryptocurrency can be a tedious task, and the challenge of securing the assets off exchanges is another hurdle some investors find difficult to overcome. Here’s a rundown of some of the most used cryptocurrency soft wallets that support a wide swath of tokens and offer users access to decentralized finance (DeFi), nonfungible tokens (NFTs), staking opportunities and airdrops. MetaMask MetaMask …

Bitcoin (BTC) and Ether (ETH) have turned down from their respective overhead resistance levels, suggesting that bears continue to sell on rallies. New research in Australia suggests that the Ethereum Improvement Proposal (EIP) 1559 upgrade has turned Ether into a better store of value than Bitcoin. The report said the annual rate of increase in Ether’s supply since EIP-1559 is 0.98% compared to an increase of 1.99% in Bitcoin’s supply. Demand for Ether has been on the rise following the surging popularity of nonfungible tokens, decentralized finance and Metaverse-related altcoins. Several analysts remain bullish on Ether and anticipate it to …

Cryptocurrency lending platform Celsius has reportedly lost over $50 million in the exploit of decentralized finance (DeFi) protocol BadgerDAO. As reported by Cointelegraph on Dec. 2, the attack targeted the protocol on the Ethereum network, reaping an unconfirmed $120 million in assets. According to one Redditor, the biggest alleged victim of the hack was an address that lost 896 Wrapped Bitcoin ($51 million). The address is supposed to be owned by Celsius “since it has interacted with other addresses known to be owned by them.” The address regularly transacts with an address that has a $67 million balance, $40 million …

Ethereum’s Ether token (ETH) is due to launch a "parabolic" attack on BTC to beat all-time highs, one analyst believes. 2-week predicts "crazy" ETH move Data from Cointelegraph Markets Pro and TradingView shows ETH/BTC sitting near three-year highs — but its next move should be even stronger. Ethereum against Bitcoin is one of the few bullish narratives in the short-term crypto markets this month. In a tweet on Dec. 3, popular Twitter account Galaxy reinforced optimistic predictions for the largest altcoin, even suggesting that ETH/BTC is about to eclipse its already strong performance with a vertical move. "I've been waiting …