Bitcoin (BTC) headed toward the upper end of its trading range on June 24 as optimism crept back into traders’ forecasts. Bitcoin price "ready for $23,000" Data from Cointelegraph Markets Pro and TradingView tracked a broadly stable BTC/USD as it hit local highs of $21,425 on Bitstamp. The pair had shifted higher since wicking below the $20,000 on June 22, with United States equities similarly cool going into the weekend. “Bitcoin ready for $23,000,” Cointelegraph contributor Michaël van de Poppe announced to Twitter followers on the day. At just above the crucial 200-week moving average (WMA), $23,000 formed a popular …

The Solana team has brought mobile phones to Web3 after revealing Saga, Solana’s Android mobile device that will go out with the project’s latest stack for Web3 developers, the Solana Mobile Stack. The community welcomed the new development with various reactions from comparing the project to Apple and Ethereum to bringing up concerns over Solana’s network outages. Vinny Lingham praised the move and called it Web3’s very own “iPhone moment” and thanked Solana co-founder Anatoly Yakovenko for making it possible. Meanwhile, David Ticzon was also impressed, calling Solana the “Apple of Web3” in a tweet. Some community members also took …

Bitcoin (BTC) was a response to the 2008 global recession. It introduced a new way to transact without depending on the trust of third parties, such as banks, particularly failing banks that were nevertheless bailed out by the government at the expense of the public. "The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust," Satoshi Nakamoto wrote in 2009. Bitcoin's genesis block sums up the intent with the following embedded message: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." But while Bitcoin …

Bitcoin (BTC) continues to face a tough battle near the psychological level of $20,000 as the bulls and the bears attempt to assert their supremacy. Trading firm QCP Capital said in their latest market circular that funding rates on derivatives markets were stable and bearish conditions were fading. Another ray of hope for the Bitcoin bulls is that Bitcoin miners may be capitulating as the recent decline in the price has made some mining machines unprofitable. Data from Arcane Research shows that public Bitcoin mining companies that had only sold 30% of their mined production from January to April of …

The Solana (SOL) whale that was subjected to the potential takeover by a recent Solend governance vote has gotten in touch with the lending protocol and moved $25 million worth of USD Coin (USDC) debt to Mango Markets. In a tweet, Solend shared that the whale has acted on the team’s suggestion to move its position across various lending protocols. The act reduces the utilization of USDC within Solend, allowing its users to withdraw their assets once more. USDC utilization has dropped from 100% to 98% meaning users can withdraw again pic.twitter.com/RRCkIbHv51 — Solend (we're hiring!) (@solendprotocol) June 21, 2022 …

Avalanche (AVAX) is down 45% in 30 days and in the same time the cryptocurrencies total market capitalization shrank by 29%. Despite the recent downturn, this decentralized application (DApp) platform remains a top contender in the layer-1 and layer-2 race and it ranks high in terms of smart contract deposits and active addresses. Yet, the lackluster token price is still causing investors to rethink whether the network remains a “serious” competitor. The brutal sell-off on risk assets caused AVAX to test the $14.80 support multiple times, while the current market capitalization stands at $4.8 billion. It’s important also to note …

The crypto markets have been in a strong bear phase for the past several months but JPMorgan Chase analysts expect that to change and they have projected a significant upside from the current levels. The analysts cited the rising share of all stablecoins in the total crypto market for their bullish outlook. Unperturbed by the current fall, retail traders have been adding Bitcoin (BTC) to their portfolios. The number of wallet addresses holding one Bitcoin surged by 13,091 to a record high of 865,254. Similarly, the number of addresses holding about 0.1 Bitcoin has also witnessed a sharp rise in …

Solana-based decentralized finance (DeFi) lending protocol Solend has created another governance vote to invalidate the recently-approved proposal that gave Solend Labs “emergency powers” to access a whale’s wallet to avoid liquidation. On Sunday, the crypto lending platform launched a governance vote titled “SLND1 : Mitigate Risk From Whale.” It allowed Solend to reduce the risk the whale’s liquidation poses to the market by letting the lending platform access the whale’s wallet and letting the liquidations happen over-the-counter. According to Solend, if SOL drops in price and the whale gets liquidated, the lending platform may “end up with bad debt” and …

Noah Davis, the nonfungible token (NFT) specialist at auction house Christie’s, has said he’s leaving the position in July to take up a post as brand lead for the CryptoPunks NFT collection with Yuga Labs. Announcing the move on Sunday in a Twitter thread, Davis looked to quash any anxieties holders had regarding the future of one of the oldest NFT projects, saying he “will not f*ck with the punks.” What does that mean? It means no Punks on lunchboxes or cringe TV shows/shitty movies. It means no arbitrary rushed utility or thoughtless airdrops. It means if you love your …

On Sunday, the decentralized finance (DeFi) sector came under scrutiny again after Solend, a popular DeFi protocol on Solana (SOL), put together a spur-of-the-moment governance proposal related to one of the whale wallets at risk of liquidation. The proposal, dubbed “SLND1 : Mitigate Risk From Whale,” was abruptly launched on Sunday without announcement and the vote closed with a 97% approval rating. The scandal comes on the heels of last week’s sudden layoffs from Coinbase and BlockFi, and the liquidation debacle of Three Arrows Capital. Adding to the melee of unexpected volatility and market sell-offs, the spur-of-the-moment alterations of a …

The sharp fall in cryptocurrencies has pulled the total crypto market capitalization below $900 billion. According to CoinGoLive, 72 out of the top 100 tokens have declined in excess of 90% from their all-time highs. In comparison, the top-10 coins have outperformed during the fall, dropping an average of 79% from their all-time high. Bitcoin (BTC) is down more than 70% from its all-time high but the bulls are struggling to arrest the decline. Jurrien Timmer, director of global macro of Fidelity, highlighted that Bitcoin could be “cheaper than it looks” considering the metric of price-to-network ratio, which is similar …

Solana (SOL) tumbled on June 16 amid a broader retreat across the top cryptocurrencies, led by the Federal Reserve's 0.75% interest rate hike a day before. Solana price rebound fizzles Notably, SOL/USD plunged nearly 17% to $30 a token, wiping out almost all the gains from the day before. The SOL price volatility liquidated almost $10 million worth of contracts in the past 24 hours across multiple crypto exchanges, data from Coinglass shows. The latest declines come as an extension to SOL's broader correction, where it dropped by more than 90% after peaking out near $267 in November 2021. SOL …