The coming year is likely to see crypto related crime reduce to an ever smaller share of the overall industry as law enforcement takes greater advantage of the transparency provided by blockchain technology, says Kim Grauer, Director of Research at Chainalysis. According to a January 6 report from Chainalysis, the growth of legitimate cryptocurrency usage is “far outpacing the growth of criminal usage.” The share of cryptocurrency transaction volume associated with illicit activity has never been lower, representing just 0.15% of transaction volume in 2021. She told Cointelegraph that barring any “outlier criminal events,” she expected that the growth of …

The cost to purchase one Bitcoin (BTC) has dropped almost 10% in the last seven days and has been eyeing extended declines as it drops below $40,000, its interim psychological support, on Jan. 10. Nonetheless, the losses suffered by Bitcoin still appear lesser than some of its top crypto rivals' performances. For instance, Cardano (ADA), the seventh-largest cryptocurrency by market valuation, has dropped by nearly 11% to around $1.15 in the last seven days. Similarly, XRP, the eighth-largest by market capitalization, has dipped by around 10% to nearly $0.75 in the same period. Meanwhile, some cryptocurrencies listed among the top …

Digital assets’ past performance is never a guarantee of future price movement. There are never two identical situations in the crypto marketplace, so even historically similar patterns of a token’s behavior can be followed by starkly different price action charts. Still, crypto assets’ individual history of price action often rhymes, giving those who can ready this history right a massive edge over other traders. And, importantly, some tokens are much more likely than others to exhibit recurring behavior, which makes their bullish setups more recognizable ahead of time. Cointelegraph Markets Pro, a subscription-based data intelligence platform whose job is to …

The prospects of Ren (REN) continuing its ongoing rebound to fresh highs appear slim as a classic bearish reversal pattern begins to emerge. Dubbed head and shoulders, the setup appears when the price forms three peaks, with the middle peak (called the head) longer than the other two peaks described as the left and right shoulders. The bottoms of these peaks are supported by a neckline. The pattern comes into play primarily when the price breaks below the neckline in a correction that follows the formation of the right shoulder. That prompts traders to open short entries below the neckline, …

Nonfungible tokens, or NFTs, have become one of the most discussed markets in the crypto space this year. A recent report from Cointelegraph Research found that NFT sales are aiming for a $17.7 billion record by the end of 2021. This may very well be the case, as a number of mainstream brands have begun launching NFTs. According to recent research from Bain & Company and the online luxury fashion platform Farfetch, digital interactions with consumers are becoming increasingly important for brands. The report specifically states that “digital interaction with peers is on the rise when choosing to purchase a …

Bitcoin (BTC) regained its bullish strength after reclaiming $50,000 last week and continued to hold the psychological level as support on Dec. 27. Meanwhile, its rival for the top safe-haven spot, the U.S. dollar, also bounced off a critical price floor, hinting that it would continue rallying through into 2022. Triangle breakout The U.S. dollar index (DXY), which measures the greenback's strength against a basket of top foreign currencies, has been trending towards the apex of a "symmetrical triangle" pattern on its daily chart. In doing so, the index has been treating the structure's lower trendline as its solid support …

This year has been monumental for the cryptocurrency sector in terms of mainstream adoption. A recent report published by Grayscale Investments found that more than one-quarter of United States investors (26%) surveyed own Bitcoin (BTC), up from 23% in 2020. With the holidays around the corner, financial services provider MagnifyMoney also found that nearly two-thirds of surveyed Americans hope to receive cryptocurrency as a gift this year. While crypto’s growth is notable, there has also been an increase in the number of scams associated with digital assets. A Chainalysis blog post highlighting the company’s “2022 Crypto Crime Report” revealed that …

Billion-dollar companies across the globe are betting big on Bitcoin (BTC). Recent analysis from European investment manager Nickel Digital Asset Management found that 20 publically listed companies with a market capitalization of over $1 trillion have about $9.6 billion invested in BTC. Individual investors are also taking an increasing interest in the asset. The “Third Annual Bitcoin Investor Study” from Grayscale Research found that demand for Bitcoin has risen tremendously. According to the study, 55% of current Bitcoin investors began buying the asset over just the last 12 months. Grayscale’s report also notes that the market for those interested in …

Bitcoin (BTC) staged an impressive recovery after dropping to its three-month low of $42,333 on Dec. 4, rising to as high as $51,000 since. The BTC price retracement primarily surfaced due to increased buying activity among addresses that hold less than 1 BTC. In contrast, the Bitcoin wallets with balances between 1,000 BTC and 10,000 BTC did little in supporting the upside move, data collected by Ecoinometrics showed. "Bitcoin is still stuck in a situation where small addresses are willing to stack sats [the smallest unit account of Bitcoin], while the whale addresses aren't really accumulating," the crypto-focused newsletter noted …

Ethereum's native token Ether (ETH) has dropped by over 18% after establishing an all-time high around $4,867 on Nov. 10, now trading near $3,900. Nonetheless, the plunge has not deterred retail investors from buying the token in small quantities. According to data gathered by Glassnode — a blockchain analytics platform, the number of Ether addresses holding less than or equal to 0.01 ETH reached a record high level of 19.95 million on Dec. 4, the day ETH dropped to as low as $3,575 (data from Coinbase). Meanwhile, the number of Ethereum wallets with balances of at least 0.1 ETH also …

Bitcoin (BTC) could be forming a so-called "double top" pattern after falling by over 30% from its record high of $69,000, suggests Peter Brandt, a veteran trader known for correctly calling the crypto market top in December 2017. The bubble has been popped. Bull market in $BTC over for some time. For analog look at Gold chart from 2011 on wards pic.twitter.com/AUSiGH0eCg — Peter Brandt (@PeterLBrandt) December 22, 2017 The Factor LLC CEO recalled Bitcoin's inability to extend its price rally above its previous all-time high near $65,000 after a second try. Meanwhile, he illustrated an immediate support level for …

Mnemonic has emerged from a period of six-month incubation to announce the upcoming launch of its nonfungible token (NFT) analytics platform designed to facilitate API and cross-chain aggregation functionalities which enable developers to build NFT-centric applications. Above this foundational layer, the platform also intents to provide on-chain quantitate data insights into popular collections in the emerging sector, commencing with Lazy Lions, World of Women, Gutter Cat Gang and Dystopunks, with plans to expand in the near future. The San Francisco-based firm was co-founded by four entrepreneurs with experience working as senior executives and lead engineers at blue-chip technology firms Google, …