The price of Ether (ETH) declined 9.8% between Feb. 19 and Feb. 25 after the price resistance at $1,725 proved stronger than expected. Still, the correction was insufficient to break the 6-week-long ascending channel and did not cause Ether derivatives metrics to turn bearish. Ether's price resilience can be partially explained by the operational failure of some of its smart contract blockchain competitors. For instance, Solana (SOL) faced a 20-hour-long outage on Feb. 25, which was only resolved after a network upgrade coordinated by validators. The network restart also involved purging some of the latest slots, although Solana developers said …

Bitcoin (BTC) moved just 0.03% last month in U.S. dollar terms, making February 2023 likely its least volatile in history. Data from Coinglass from after the monthly close confirms that BTC/USD went practically nowhere for four weeks straight. Bitcoin monthly candle barely leaves a trace To say that Bitcoin is less volatile than it was is something of an understatement when it comes to February. Despite its ups and downs, mostly due to macroeconomic data, BTC price action finished the month almost exactly where it began at around $23,500. That means that Bitcoin was more stable than a raft of …

Bitcoin (BTC) millionaires are made when the BTC price crosses $20,000, data reveals. According to on-chain analytics firm Glassnode, there are currently over 67,000 BTC wallets worth $1 million or more. $20,000 makes 50-BTC hodlers happy Bitcoin is famous for its relationship with the $20,000 price tag. Prominent since becoming the all-time high of Bitcoin’s previous halving cycle, $20,000 is more than just a technical and psychological line in the sand. As Glassnode now shows, when BTC/USD crosses that price point, a large number of hodlers either gain or lose U.S. dollar millionaire status. In late 2022, for example, when …

Crypto industry layoffs appear to have slowed down significantly over the past month with an estimated 570 crypto employees dismissed in February, down from an estimated 2,850 in January. Cointelegraph compiled the figures based on publicly reported layoffs and found job cuts were spread across at least 12 companies over the 28-day period, but noticeably lacked the triple-digit crypto exchange layoffs compiled in January, such as those from Coinbase, Crypto.com and Huobi. Instead, staff cuts came in the double-digits for the most part — impacting blockchain analytics firms, blockchain and software development firms, and digital asset platforms among others. The …

Stacks is one of the first blockchains to enable a way for minting Bitcoin (BTC) Ordinals, which puts it in an excellent position to benefit from the hype. However, Ordinals have invoked an issue from the past where Bitcoin maximalist ideologies will be tested if the NFTs lead to network congestion. On top of that, Stacks has yet to deliver all the functionalities required to support an NFT trading ecosystem and it faces competition from projects in other blockchain ecosystems. The fundamental and technical analysis of the project suggests that the price surge might have reached overbought conditions and may …

The month of February was filled with investors’ hope that an earlier-than-expected Federal Reserve policy pivot would occur, but this sentiment faded as the inflation and employment data came in hotter than expected. While the start of the month was bullish for the crypto market, Bitcoin (BTC) retraced 60% of the move from February’s low at around $21,500 to the peak of $25,250. Nevertheless, some narrative-driven rallies still caused significant price growth in some altcoins. The leading narratives were Bitcoin NFTs, liquidity staking derivatives (LSDs) on Ethereum and Artificial Intelligence (AI) projects. Let’s review the top performing coins of the …

The recent weakness in the crypto market has not invalidated the six-week-long ascending trend, even after a failed test of the channel's upper band on Feb. 21. The total crypto market capitalization remains above the psychological $1 trillion mark and, more importantly, cautiously optimistic after a new round of negative remarks from regulators. As displayed above, the ascending channel initiated in mid-January has room for an additional 3.5% correction down to $1.025 trillion market capitalization while still sustaining the bullish formation. That is excellent news considering the FUD — fear, uncertainty and doubt — brought down by regulators regarding the …

Bitcoin (BTC) faced a showdown with a key trend line on Feb. 28 as the monthly close finally arrived. Bitcoin "doesn't feel bullish" into February close Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling an area around $23,500 at the Wall Street open. With United States stocks flat and the U.S. dollar avoiding a return to strength, eyes were on Bitcoin to preserve its gains through last-minute volatility. “Would like to see more Bitcoin bid liquidity enter the active trading range to increase the chances of closing the Monthly candle above the 50-Month Moving Average,” monitoring resource Material …

Bitcoin (BTC) exchanges have less BTC to buy than at any time since early 2018, the latest data shows. On-chain analytics firm Glassnode confirms that as of February 2023, exchange reserves are at five-year lows. "Wild stat" shows Bitcoin supply maturation The latest statistics to reflect the determination of Bitcoin hodlers, major exchanges’ BTC balances are in “down only” mode. As of Feb. 27, the latest date for which data is available, the platforms tracked by Glassnode held a combined 2,272,798 BTC. It was in March 2018 that the number was so low, which March 2020 represents the current all-time …

Bitcoin (BTC) price broke above $25,000 on Feb. 21, accruing a 53% year-to-date gain at the time, it made sense to expect the rally to continue after U.S. retail sales data from the previous week vastly surpassed the market consensus. This fuelled investors' hope for a soft landing and the possible aversion of a recession in the U.S. economy. The apex of the U.S. Federal Reserve’s strategy success would be increasing interest rates and scaling back its $9 trillion balance sheet reduction without significatively damaging the economy. If that miracle happens, the outcome would benefit risk assets, including stocks, commodities …

Bitcoin (BTC) and the United States equities markets are trying to start the week on a positive note but some analysts are skeptical about the short-term prospects of the markets. According to Bloomberg Intelligence senior macro strategist Mike McGlone, Bitcoin will face significant resistance at $25,000. McGlone believes that it “may be a while before buy-and-hold types gain the upper hand.” It also looks like Bitcoin whales, unique entities owning 1,000 Bitcoin or more, are also not convinced of the recovery in the crypto markets. According to Glassnode, Bitcoin whale numbers have fallen to 1,663, which is well below the …

Blockchain Founders Fund, a venture capital fund supporting the adoption of Web3 and blockchain technology, has announced the close of a $75 million fundraising round from companies such as Polygon, Ripple, Octava, NEO Global Capital, Appworks, GSR, LD Capital, Metavest Capital and others, such as Sebastien Borget, chief operating officer of The Sandbox. According to the announcement, the fund will focus on supporting high-potential early-stage pre-seed and seed projects that encourage the mass adoption of Web3 and blockchain technology. The fund has already invested in over 100 startups, including Altered State Machine, Splinterlands, GRID, Krayon and Magna. In an interview …