As a market crash takes place, assets become oversold and typically there’s an “oversold bounce,” “return to mean,” “mean reversion,” or some price snapback to the bottom of the pre-crash range. Afterward, the asset under study either consolidates, continues the downtrend, or returns to the bullish uptrend if the downside catalyst was not significant enough to break the market structure. That’s all kind of basic trading 101. This week Cosmos (ATOM) price appears to be following this path and the altcoin is showing a bit of strength with a 35% gain since Aug. 22, but why? Depending on how you …

The $74 million plan by two former Uniswap Lab executives for a new Uniswap Foundation has just become reality after their proposal received over 99% of the votes from UNI token holders. According to the initial proposal, the foundation aims to streamline Uniswap’s Grant Program (UPG) and reduce friction in the protocol’s governance system. Former Uniswap Labs executive Devin Walsh, now serving as executive director of UF shared the results in a tweet on Aug. 24, noting that the proposal to create the foundation “passed its final vote!” Last night our proposal to create the Uniswap Foundation passed its final …

On Wednesday, U.S. dollar stablecoin issuer Tether (USDT) said that it would not freeze smart contract addresses sanctioned by the U.S. Office of Foreign Assets (OFAC) Control's Specially Designated Nationals and Blocked Persons (SDN) list for cryptocurrency trail-mixer Tornado Cash. In explaining the decision, Tether said: "So far, OFAC has not indicated that a stablecoin issuer is expected to freeze secondary market addresses that are published on OFAC's SDN List or that are operated by persons and entities that have been sanctioned by OFAC. Further, no U.S. law enforcement agency or regulator has made such a request despite our near-daily …

Bitcoin (BTC) and several major cryptocurrencies have been trading sideways as traders avoid taking large bets before the United States Federal Reserve's Jackson Hole Economic Symposium, which begins on Aug. 25. The volatility is likely to soar as investors get some clarity on the Fed's stance in the next few days. On Aug. 23, a team led by Goldman Sachs chief economist Jan Hatzius said that Fed Chair Jerome Powell could sound dovish when he speaks on Aug. 26, reiterating that the central bank may move at a slower pace in future meetings. The analysts expect the Fed to raise …

Bitcoin (BTC) stayed strictly rangebound on Aug. 24 as buyers and sellers attempted to spark a breakout. Spot price squeeze on the cards Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $21,500 at the Wall Street open. The pair had seen little action in the 24 hours prior, entering a fifth day of sideways movement within an increasingly tight range. Data from the order book of major exchange Binance uploaded to social media by on-chain monitoring resource Material Indicators hinted that the status quo was frustrating exchange users, including whales. At the time of writing, bids were …

The price of Chiliz (CHZ) has surged by approximately 35% week-to-date (WTD) to reach $0.26 per token on Aug. 24. In doing so, the token has outperformed Bitcoin (BTC) and Ether (ETH), which have been wobbling between gains and losses in the same period. Here are the key catalysts that could be behind Chiliz's breakaway rally. CHZ 2.0 On Aug. 22, Chiliz founder Alexandre Dreyfus announced their intentions to stop utilizing the Ethereum blockchain to launch their fungible and nonfungible tokens and replace it with its own native chain, CHZ 2.0. "We don't have to rely forever only on ERC20 …

The United States filled in the wide gap in Bitcoin (BTC) mining that was left open by China by the end of June 2021. Despite looming rumors of high power consumption, officials in Texas, one of the fastest growing crypto mining hubs in the US, now believe that mining operations can, in fact, garner a symbiotic relationship with the energy industry. A newsletter from the Texas Comptroller’s office revealed the state’s pro-crypto stance with the intent to host long-term miners and operators. Clarifying the general misconception about Bitcoin’s energy usage, the fiscal note highlighted that unlike “manufacturing facilities or industrial …

Avalanche-based decentralized finance (DeFi) protocol Trader Joe claims it may have found a way to mitigate one of DeFi’s biggest weaknesses — impermanent loss. In a newly released whitepaper on Aug. 23 called the JOE v2 Liquidity Book, authored by Quant developers and researchers Adam Sturges, “TraderWaWa”, “Hanzo” and software engineer “Louis MeMyself”, the developers outlined the use of Liquidity Book (LB) with an additional variable fee swap feature to "provide traders with zero or low slippage trades." /4 Impermanent Loss One of the most critical issues of Uniswap V3 is that impermanent loss often exceeds swap fees. A study …

Bitcoin (BTC) price remains pinned below $22,000 as the lingering impact of the Aug. 19 sell-off at $25,200 continues to be felt across the market. According to analysts from on-chain monitoring resource Glassnode, BTC’s tap at the $25,000 level was followed by “distribution” as profit-takers and short-term holders sold as price encountered a trendline resistance following a 23 consecutive day uptrend that saw BTC trading above it’s realized price ($21,700). The firm also noted that the “total inflows and outflows to all exchanges” metric shows exchange flows at multi-year lows and back to “late-2020 levels,” which reflects a “general lack …

On this week’s “The Market Report” show, Cointelegraph’s resident experts discuss some of the main factors that contributed to the collapse of this bear market rally. To kick things off, we broke down the latest news in the markets this week: BTC to lose $21K despite miners’ capitulation exit? 5 things to know in Bitcoin this week. Miners are a glimmer of hope in a barren Bitcoin landscape this week ahead of a key Federal Reserve event in Jackson Hole. After dipping below $21,000 over the weekend, the largest cryptocurrency is consolidating around 10% lower than a week ago, and …

After the rising wedge formation was broken on Aug. 17, the total crypto market capitalization quickly dropped to $1 trillion and the bulls' dream of recouping the $1.2 trillion support, last seen on June 10, became even more distant. The worsening conditions are not exclusive to crypto markets. The price of WTI oil ceded 3.6% on Aug. 22, down 28% from the $122 peak seen on June 8. The United States treasuries 5-year yield, which bottomed on Aug. 1 at 2.61%, reverted the trend and is now trading at 3.16%. These are all signs that investors are feeling less confident …

On Monday, developers of decentralized nonfungible tokens (NFTs) borrowing and lending protocol Bend DAO proposed new emergency measures in an attempt to stabilize the ecosystem. The same day, it was revealed that the project had just as little as 15 wrapped Ether (wETH) worth $23,715 to pay back lenders. Approximately 15,000 ETH was lent using the mechanism. To save the protocol from a credit crisis, the Bend Dao dev team suggested that the liquidation threshold for collateral would be constrained to 70% of the loan value, down from 85%. Next, the auction period for NFTs on its platform would be …