As Bitcoin goes, so go we all. It’s etched into the consciousness of crypto traders because the price of altcoins so often trends closely with the price of Bitcoin (BTC). If the original cryptocurrency rallies, so does the rest of the crypto market. Whenever BTC tumbles, it invariably drags its smaller siblings down with it. Yet, as the crypto industry matures and many blockchain projects begin to generate their own unique value, the link between the price of Bitcoin and that of many alternative digital assets grows more tenuous. The fact that the BTC dominance indicator currently sits at a …

Bitcoin (BTC) has been struggling to rise above the $50,000 mark, which could have resulted in traders dumping their Bitcoin positions to invest in altcoins. Glassnode data suggests that whale addresses owning more than 1,000 BTC have reduced from about 2,500 in February to 2,100. If large investors continue to sell, Bitcoin could witness a sharp correction until institutional investors step in and buy at lower levels. While MicroStrategy announced the purchase of 271 Bitcoin on May 13, other existing institutional investors appear to be adopting a wait and watch approach. In an interview with Financial NewsSquare, Square chief financial …

Solana’s native SOL token is charting new highs on Sunday, gaining in U.S. dollars and in Bitcoin (BTC) on the back of growing network adoption and a key technical breakthrough. The SOL token peaked at $52.42 on Sunday, according to TradingView, having gained 24% over the 24-hour trading cycle. That marked a new all-time high for SOL and the first definitive break above the psychological $50 level. As Cointelegraph previously reported, Solana rallied to a high of $49.99 on May 2 before losing some of its momentum. The $50 target had remained elusive over the previous two weeks. At the …

Bitcoin’s (BTC) price closed the month down 1.98%, which, according to data from Bybit, was its first negative close in April since 2015. In the same month, Ether’s (ETH) price soared over 44% to hit a new all-time high close to $3,000. This wide divergence between the top two cryptocurrencies shows that the markets have matured and Bitcoin’s underperformance is not affecting altcoins as much as it did in the past. Ether’s bullish trend has attracted strong buying from traders. Data from Bybit suggests that Ether futures open interest climbed to $8.5 billion on Thursday, rising 52% over the previous …

One of the largest ETH 2.0 and Terra staking services is now looking to expand to other proof-of-stake chains, starting with upstart layer 1 Solana. In a proposal today on Lido’s governance forums, crypto infrastructure provider Chorus One laid out a plan to build “a liquid staking token (for now: stSOL) that will accrue staking rewards and represent staking positions with Lido validators on Solana,” similar to Lido’s current interest-accruing stETH token. Development funding to bring Lido’s services to an additional chain would come from the Lido Ecosystem Grants Organization, a program Lido’s governance kicked off in March. Chorus One’s …

Happy Wednesday fellow DeFi degens! I was expecting to spend a large portion of this edition of Finance Redefined analyzing Aave's liquidity mining program. There was some anxiety from investors that the emission of 2,200 $AAVE per day (which would translate to roughly 5% of the ecosystem reserve fund of 2.8 million AAVE per year) might end up dragging down the token's price as farmers earn and dump. I would feel very uncomfortable holding an asset if the governance token of a very important protocol ends up in the hands of people who only think about short term gains. — …

Decentralized finance (DeFi) has reshaped the face of the cryptocurrency market over the past year, attracting the attention of both institutional investors and retail traders alike as the traditional financial sector continues to warm up to blockchain technology. While the majority of the largest DeFi protocols that have a significant amount of volume and value locked in the platform operate on the Ethereum network, high fees and slower transaction times have allowed projects like Serum, a decentralized exchange (DEX) that operates on the Solana blockchain, to rise in popularity and gain market share. Data from Cointelegraph Markets and TradingView shows …

Cryptocurrency investors breathed a sigh of relief on April 26 as the sharp reversal in the price of Bitcoin (BTC) was accompanied by a marketwide recovery that has a majority of altcoins seeing green. It's likely that the breakout was aided by bullish assessments from JPMorgan Chase analysts and PayPal's announcement that demand for purchasing cryptocurrencies had surpassed expectations. Data from Cointelegraph Markets and TradingView shows that after bouncing off a low near $47,000, Bitcoin roared back above the $50,000 support level and climbed above $53,500, while Ether (ETH) reclaimed $2,500. Last week’s market pullback did little to slow the …

The price of Bitcoin (BTC) is still stuck in what traders hope will be a short-term downtrend as the impact of the April 18 rumors of a crackdown on “unnamed financial institutions” for facilitating money laundering using cryptocurrencies has yet to be shaken off. Data from Cointelegraph Markets and TradingView shows that since being pummeled below the $51,000 level on April 18, the price of BTC has been trading in a range between $52,500 and $57,500 and establishing a descending pattern of lower highs and lower lows. While regulatory concerns may have played some role in the current drawdown, there …

The arrival of institutional investors and the rise of decentralized finance has been an incredible boon for the entire cryptocurrency sector, but it has also highlighted a number of persistent limitations that many blockchain networks encounter when faced with surges in activity and the need to scale. High fees and slower transaction times on the Ethereum network have left the door open for new layer-one solutions to emerge, and Solana is one such project that has been gaining traction lately. Data from Cointelegraph Markets and TradingView shows that the price of Solana (SOL) has increased 195% over the past month, …

The stakes have been upped for Cardano and Polkadot, with the two networks continuing to dominate the staked capitalization rankings. According to data from StakingRewards, Cardano is currently the top blockchain in terms of staked value, with roughly $26.4 billion worth of Cardano (ADA) allocated to securing the network. With Cardano’s entire capitalization tagging $36.6 billion, 73% of circulating ADA are being staked. StakingRewards estimates Cardano stakers are earning an annual reward of 7.22%. The second-largest crypto asset by staked value is Polkadot with $22.7 billion worth of DOT locked — representing 64% of its circulating supply. Average annual staking …

Few traders would argue against the fact that Bitcoin (BTC) is in a bull market, but there is less consensus on whether the market is in the midst of an "altcoin season." A quick view of Crypto Twitter shows the schism between traders who are certain we are halfway through alt season and those who believe it has yet to begin. Typically, traders rely on a wide swath of indicators and metrics, like Bitcoin’s total market capitalization versus the total altcoin market cap, Bitcoin’s dominance rate, and whether low-cap altcoins have rallied by a certain percentage. As is the nature …