Solana Pay is a peer-to-peer payments infrastructure designed to enable the global market of online merchants and point-of-sale providers the ability to accept and settle payment transactions in a panoply of digital assets. A joint collaboration between Solana Labs, Checkout.com, Circle and Citcon, in addition to wallet integrations from Phantom and FTX, the platform’s inbuilt software development kit acts as an intermediary between traditional fiat-centric businesses and the cryptocurrency sector, promising to promote wider engagement and adoption from traditional consumers. In an exclusive statement, Solana Pay revealed that they perceive the “most prevalent use-case to be with digital dollar currencies” …

The cryptocurrency market is in a state of confusion on Jan. 31 as many traders view Bitcoin's (BTC) weakness as a sign that a crypto winter is beginning, yet increasing news of adoption and multi-million-dollar financing rounds continue to make headlines on a regular basis. As Bitcoin trades at $38,500, analysts are highlighting the current price action as a possible buy zone and this bullish sentiment is spilling into altcoins also. Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were DerivaDAO (DDX), Telos (TLOS) and Bonfida (FIDA). DerivaDAO sees a 3,692% increase …

The past couple of months have not been kind to cryptocurrencies. The sector's aggregate market capitalization plunged 50% from a Nov. 10 peak at $2.87 trillion to the current $1.44 trillion. Solana's (SOL) downfall has been even more brutal, presently trading at $88 after a 66% correction since its $260 all-time-high. Pinning the underperformance exclusively to the recent network outages seems too simplistic, and it doesn't explain why the accelerated decoupling over the past week, so let's take a look at what might be going on. The Solana network suffered four incidents in the span of a few months. According …

Bitcoin (BTC) started the 2022 on a losing note, dropping about 20% to its worst performance in January since 2018 when the price plunged 26.61%, according to on-chain analytics resource Coinglass. Now, all eyes turn to February, which has historically favored the bulls. The only two negative closes in February were in 2020 and 2014. One positive sign during the recent price decline has been that the long-term hodlers have not panicked. Glassnode data shows that the number of coins that last moved between five and seven years ago surged to a new all-time high. El Salvador's President Nayib Bukele …

Solana (SOL) looks poised to paint its first “death cross” this week, raising fears that its ongoing selloff would continue further into February. Real selloff threat Notably, the SOL price's 50-day exponential moving average (50-day EMA; the red wave) will eventually close below its 200-day EMA (the blue wave), signaling a bearish crossover, called death cross, that typically prompts traders to sell. The threat surfaces as SOL looks to close January at nearly a 50% loss — as of the month's final day, the Solana token was down by over 2.50% to nearly $91, compared to almost $180 at the …

Software wallet and browser extension Phantom has raised $109 million in Series B financing to continue expanding its cross-platform capabilities beyond Solana. The funding round was led by Paradigm, an investment firm focused on cryptocurrency and Web3 companies. Other venture firms to have supported Phantom in prior funding deals include Andreessen Horowitz, Jump Capital and Variant Fund. According to Phantom, the funding will help enhance the wallet’s technical capabilities, such as better app discovery, as well as allow the company to hire additional employees. In addition to its funding round, Phantom also announced Monday that its mobile app is now …

Bitcoin (BTC) and most major altcoins are turning down from overhead resistance levels, indicating that the sentiment remains negative and traders are selling on every available opportunity. Decentrader analyst Philip Swift said that the on-chain spent profit output ratio (SOPR) metric, which aggregates the price of purchase versus price sold during a given period, indicates that traders are selling their Bitcoin holdings for a loss. Another metric that is worrying traders is the funding rates, which has further slipped into the negative territory following comments by the U.S. Federal Reserve. Crypto research firm Delph Digital expects Bitcoin to “make a …

Bitcoin (BTC) and most major altcoins have bounced off their strong support levels but could the rally sustain to the extent that traders feel confident that a bottom in place? Bloomberg Intelligence senior commodity strategist Mike McGlone said that Bitcoin’s price is “about 30% below its 20-week moving average,” roughly at the same position, which had led to bottom formations in March 2020 and July 2021. Although Bitcoin has corrected sharply in January, the exchanges’ balances dropped from 2.428 million Bitcoin on December 28 to 2.366 million Bitcoin on Jan. 24, according to data from CryptoQuant. This indicates that investors …

Bitcoin (BTC) and most major altcoins are struggling to find a bottom, indicating that traders are dumping their positions out of fear. The big question on everyone’s mind is whether the selling is over or could the decline continue? UTXO Management senior analyst Dylan LeClair highlighted that the network cost basis, the average price at which Bitcoin was last moved by various investors, is $24,000 and historically, the ratio of cost basis to price has bottomed out below 1.0. If history were to repeat itself, Bitcoin may have to fall some more to make it an attractive buy according to …

Bitcoin (BTC) set new multi-month lows on Jan. 24 as the new week began with some classic price behavior. “Rangeplay” for BTC after CME gap fill Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $32,967 on Bitstamp prior to the Wall Street open Monday. That level represented the start of a CME futures gap left over from July 2021, Bitcoin “filling” it almost to the dollar before reversing upwards to add over $1,000 in minutes. With volatility clearly in the air, expectations were running high for the start of trading on United States equities markets. Weekends are …

Without a doubt, the internet has transformed how the world could receive information, from reading news on Twitter, instead of picking up the daily paper to communicating with friends from around the world through instant messaging. As significant as the contributions of the internet have been, these developments have resulted in an entirely new concern, which one can define in three words — monopolization of power. Although the internet has low barriers to entry for anyone to begin participating in, fewer than a dozen megacorporations have dominated the digital space. Since social media platforms have so much authority, users willingly …

Solana (SOL) price may fall to $70 a token in the coming weeks as a head and shoulders setup emerged on the daily timeframe and possibly points toward a 45%+ decline. The chart below shows that SOL price rallied to nearly $217 in September 2021, dropped to a support level near $134 and then moved to establish a new record high of $260 in November 2021. Earlier this week, the price fell back to test the same $134-support level before breaking to a 2022 low at $87.73. This phase of price action appears to have formed a head and shoulders …