Altcoins and decentralized finance (DeFi) tokens have been on a tear for the last two weeks and, as the end of August approaches, many projects are seeing their tokens reach all-time highs. Data shows that a majority of the top-10 DeFi tokens gained more than 20% in the past 30-days, with projects like Bancor (BNT) and THORChain (RUNE) seeing gains in excess of 115%. Here’s a look at some of the factors behind the current boost to DeFi tokens and the projects that are leading the way in terms of protocol upgrades and cross-chain interoperability. Total value locked reaches a …

Ether (ETH) will face a critical $820 million monthly options expiry on Friday, Aug. 27. That will be the first time that $3,000 and higher options will have a real fighting chance, even though bulls seem to have missed a good opportunity to dominate the expiry because they were too optimistic about Ether’s price potential. It is unclear why $140 million of the neutral-to-bullish call options were placed between $3,800 and $8,000, but these instruments will likely become worthless as the monthly expiry approaches. Competition and the success of interoperability-focused protocols impact Ether price The Ethereum network has struggled due …

Bitcoin (BTC) remains on a strong footing after bears failed to capitalize on the rejection near the psychological mark at $50,000. The recent price rise in Bitcoin has not enticed longer-term investors to part with their holdings, and Glassnode data shows that the Bitcoin supply held by long-term holders has hit a new all-time high of 12.69 million BTC. This tops the previous record achieved in October 2020. MicroStrategy’s recent Form 8-K filing with the United States Securities and Exchange Commission shows that the company bolstered its Bitcoin holdings by 3,907 BTC between July 1 and Aug. 23. The company …

VGX is the native token of Voyager, a cryptocurrency broker, and the asset is designed to generate staking rewards for its holders as well as boost their yield earnings on other digital assets. Over the last 30 days, the asset delivered even more value as it has more than doubled its price against the United States dollar and gained 46% over the resurging Bitcoin (BTC). What caused the coin’s price to soar, and was there a way to anticipate its rally early on? Breaking news, familiar market patterns VGX’s August price surge was an expected byproduct of bullish news coming …

The wider crypto market has a wait-and-see feel to it on Aug. 25 as the price of Bitcoin (BTC) dipped to $47,360 before rebounding off the lower support of the ascending channel to reclaim the $48,000 level. Despite the swift turnaround, analysts are still wary and well-known financial analyst John Bollinger warned investors that it might be a good time to secure some profit. Several altcoins have managed to overcome the general market malaise to post double-digit gains on Wednesday as decentralized finance (DeFi) and nonfungible tokens (NFT) continue to push higher. Data from Cointelegraph Markets Pro and TradingView shows …

Bitcoin (BTC) headed down to test new support on Wednesday after a breakdown of bullish trajectory sparked predictions of $44,000. Old resistance provides a backdrop for BTC price rethink Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing around 2% overnight Wednesday. A rejection after an attempt to reclaim $51,000 — the top of a key long-term resistance zone — saw Bitcoin pause for thought, beginning what analysts had already said would be a well-earned correction. For Cointelegraph contributor Michaël van de Poppe, $44,000 could be a useful floor should the downside continue. “At this stage, $51,000 is a …

Amid the enormous success of crypto-powered game Axie Infinity in the Philippines, the local Department of Finance has made clear that it wants a cut of profits generated by playing Axie and other play-to-earn games. An August 23 report from Inquirer cites Philippine Finance Undersecretary Antonette Tionko as clarifying that any profits gleaned through play-to-earn games are subject to income tax. “Cryptocurrency is an asset, so it’s already taxable in the Philippines [...] whoever earns currency from it, it’s income you should report it,” she said. While the official asserted that that play-to-earn gains “are subject to income tax,” Tionko …

Cardano (ADA) addresses with a balance greater than $1 million have surged 173% during the latest ADA price rally. Specifically, the ADA/USD exchange rate gained almost 200% after bottoming out at $1.007 on July 20. The pair reached its record high of $3.02 in the previous session, a move that was followed by a 6.42% price correction to $2.73 at the time of writing. Meanwhile, the same period saw the total number of Cardano wallets that hold at least $1 million worth of ADA tokens surge from 3,625 to 9,830, per information provided by data analytics platforms CoinMetrics and Messari. …

Over the weekend, Cointelegraph's Markets Pro subscription service, which offers institutional-grade research tools for crypto traders, shared its latest VORTECS™ Report with its Discord community. The report, available only to subscribers, highlights the past week’s biggest-gaining tokens as identified by the system's artificial intelligence algorithm. Ten top altcoins made profits of 50% or greater, half of them rallying following either an 80+ VORTECS™ Score or a timely NewsQuake™. The longer, the better: High-scoring coins delivered robust average returns that increased after longer times. Listing announcements propelled SRM and Enjin Coin (ENJ) to solid gains. Four out of ten top-gaining coins …

Bitcoin (BTC) is currently facing a crucial resistance to breakthrough after a massive rally of 70% since the recent low in July at $28,000. This resistance is found in the psychological area between $50,000 and $51,000 and can be classified as the final hurdle before a new all-time high. This correction started when Michael Saylor revealed that MicroStrategy had purchased another $177 million worth of Bitcoin, while the company is already one of the largest holders of Bitcoins. The market hasn’t seen any correction since the recent bottom at $28,000, through which a potential correction might be on the horizon. …

Bitcoin (BTC) stayed tantalizingly close to $50,000 on Tuesday as bulls contended with a classic resistance level. Too late for “dirt cheap” Bitcoin? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD holding necessary support levels for bullish continuation through Tuesday. The pair had dipped to within the $48,000 range over the past 24 hours before exiting to the upside, with $49,000 now the level in line for retests. For trader and analyst Rekt Capital, current behavior had plenty of historical context — Bitcoin’s first trip above $50,000 in February had also involved a focus on the $48,000–$49,000 area. “BTC …

The latest rally in the Cardano (ADA) market has activated a classic bearish pattern that threatens to lower its prices by as much as 15%. Dubbed as a rising wedge, the textbook pattern forms when the price consolidates between upward sloping resistance and support trendlines. Its occurrence typically prompts a bearish reversal, confirmed by a voluminous break below the lower trendline. The profit target during such a negative move comes to be as below as the maximum wedge height. ADA/USD currently ticks all the boxes for forming a falling wedge pattern, as shown in the chart below. The pair now …