Bitcoin (BTC) and most major altcoins continue to be pinned below their respective overhead resistances, indicating that bears are selling on rallies. According to Ki Young Ju, CEO of on-chain analytics firm CryptoQuant, “whales are depositing Bitcoin to exchanges.” Curiously, the outflows from the exchanges have also continued and due to this, the reserves are still hovering close to their lowest levels since mid-2018. In a somewhat contradictory report, Glassnode said that long-term holders may be “reducing their spending, and thus are more likely to be adding to positions, not exiting them.” While Bitcoin has been in a corrective phase …

The CEO of Ripple, the company behind the XRP cryptocurrency, is not a fan of the meme-based digital currency Dogecoin (DOGE). Brad Garlinghouse believes that DOGE is not good for the cryptocurrency market due to its alleged “inflationary dynamics” and unlimited supply. The global inflation is driving Bitcoin (BTC) price higher, but has a warning for Dogecoin fans, Garlinghouse argued at a CNBC-moderated panel at the Fintech Abu Dhabi event on Tuesday. “I'm actually not convinced, somewhat controversially I guess, that Dogecoin is good for the crypto market. Dogecoin has some inflationary dynamics itself that would make me reluctant to …

The long-standing feud between distributed ledger technology firm Ripple and the United States Securities and Exchange Commission (SEC) is nearing its end, according to Ripple’s CEO. Brad Garlinghouse highlighted the progress made in the case “despite a slow-moving judicial process.” Speaking to CNBC, he predicted that the Ripple case would likely conclude in 2022. “Clearly, we’re seeing good questions asked by the judge,” Garlinghouse said, adding his belief that “The judge realizes this is not just about Ripple, this will have broader implications.” Last year, the SEC charged Ripple with allegations of selling unlicensed securities in the form of XRP …

Bitcoin (BTC) continues to be pinned down below $60,000 indicating that higher levels are attracting selling from traders. The S&P 500 made a new all-time high today on reports that U.S. President Joe Biden renominated Jerome Powell to serve a second term as the Federal Reserve chair. This news also boosted the U.S. dollar currency index (DXY) to its highest level since July 2020. Usually, sharp gains in the DXY are inversely correlated with Bitcoin and the same can be seen in November of this year as well. While the DXY is up about 2.3% in November, Bitcoin is down …

Bitcoin (BTC) dropped below $56,000 on Nov. 19, completing a near 20% correction from the all-time high. The Crypto Fear & Greed Index, which remained in the greed zone for most of the past two months, has plummeted into the fear category with a reading of 34. Cryptocurrency research firm Delphi Digital said in a recent report that the sell-off in Bitcoin was “largely driven by a wave of liquidations rather than a fundamental shift in narrative,” and the analysts expect the drawdown to be “relatively short-lived.” The recent correction does not seem to have shaken the long-term holders. According …

Bitcoin (BTC) and Ether (ETH) are testing psychologically important support levels at $60,000 and $4,000 respectively. Both these levels are critical to keep the uptrend intact in the short term. While the fall may scare off leveraged traders, Bitcoin whales seem to be viewing this dip as a buying opportunity. On-chain data shows that the third-largest Bitcoin whale added 207 Bitcoin to the holdings at an average price of about $62,053 per Bitcoin. After the latest purchase, the whale’s holding has increased by 635 Bitcoin in November, according to journalist Colin Wu. However, it is not all bullish news for …

Bitcoin (BTC) could not sustain its gains and succumbed to profit-booking as the U.S. trading markets started the week, possibly indicating that bears have not given up yet. PlanB, creator of the popular BTC stock-to-flow model, does not seem to be perturbed by the dull price action of the past few days. The analyst believes that his worst-case scenario projection of $98,000 by Dec. 1 and $135,000 by Jan. 1 remains in place. However, long-term holders do not seem to be waiting for higher levels and have started booking profits, according to analyst William Clemente who cited Glassnode data. According …

Bitcoin (BTC) and Ether (ETH) have again risen to a new all-time high on Nov. 10, indicating that the trend remains firmly in favor of the bulls. In a recent report from Kraken exchange, analysts said that the current quarter’s price action has a correlation of 0.88 with the fourth quarter of 2017. Bitcoin had rallied 220% in 4Q 2017 and if history repeats itself, Bitcoin could reach $96,355, which could potentially be this cycle’s top. Long-term holders, who have held their Bitcoin for more than 12 months, are reluctant to spend their coins, according to Glassnode’s “The Week On-Chain” …

Fintech firm Ripple has announced a new service aimed at finance companies that will allow them to offer cryptocurrency trading to customers. Ripple unveiled the Liquidity Hub service in a blog post on Nov. 9, touting a “crypto-first future” in which every company will need to have a strategy for crypto assets. The new service will target its enterprise clients giving them access to digital assets from a range of providers such as exchanges, market makers, and over-the-counter (OTC) trading desks. It is currently in the preview stage and will launch in 2022. Liquidity Hub will initially support Bitcoin, Ethereum, …

Bitcoin (BTC) is close to making a new all-time high and Ether (ETH) finally soared to hit a new high at $4,800. This pushed the total crypto market capitalization above $3 trillion for the first time ever on Nov. 8, according to data from CoinGecko. Data from Santiment shows that Bitcoin whales holding between 10,000 BTC to 100,000 BTC in their wallets have been aggressively buying in the past few days. They have added 92,000 Bitcoin in the past 25 days out of which roughly 43,000 have been purchased in the past five days. Another important group that has been …

Nonfungible tokens, or NFTs, have been dominating the crypto market this year. With sales topping over $2.5 billion during the first half of 2021, it shouldn’t come as a surprise that both the crypto community and mainstream creators are launching NFTs in hopes of driving revenue and engagement. The rise of the Metaverse has also pushed the adoption of NFTs, demonstrating the value of nonfungibles for major brands and social media platforms alike. While NFT sales soar, the Ethereum blockchain continues to rule the space. For instance, a recent report from Cointelegraph Research found that Ethereum represented at least 97% …

If all goes to plan, Wrapped XRP (wXRP) will be coming to the Ethereum (ETH) blockchain next month, courtesy of Wrapped.com. The move is meant to enable XRP holders to interact with aspects of decentralized finance, or DeFi, such as executing smart contracts for use in borrowing and lending, swapping for altcoins, via their native tokens. Currently, the network can only handle sending, receiving, and holding XRP. Wrapped tokens are digital currencies stored in a digital vault and run on a separate blockchain. Notable wrapped tokens include Wrapped Bitcoin, which operates on the Ethereum blockchain, and Wrapped Ethereum, which converts …