Bitcoin maximalists are currently gaining from the dropping altcoin market capitalization. Another group in on that is DeFi project traders and HODLers. This weekend, the altcoin market capitalization dropped further. In the past 7 days, the altcoin market capitalization has dropped along with a drop in altcoin prices. BNB, ADA, DOGE, XRP, DOT and CRVContinue reading “How will the drop in this metric affect UNI, CAKE, SUSHI, AAVE?”

The overall crypto market capitalization was $1.5 Trillion, despite millions being shaved off from the drop in altcoins’ price. Bitcoin continued to trade above the $35000 level and DeFi projects with high market capitalization have started rallying. Despite an overall drop in DeFi’s TVL, an increased inflow of investment was seen. There are several metricsContinue reading “What do these metrics say about UNI, yearn.finance and other DeFi tokens?”

Chainlink was trading above the $20 level based on price data from coinmarketcap.com. Trade volume dropped by 5% in the past 24 hours. This indicated a drop in liquidity and volatility. However, this has not affected the price negatively. Chainlink holders have watched the price drop from $52.20 to $25.27. This is a drop ofContinue reading “3 main reasons for Chainlink heading towards this”

The market’s altcoins have rallied in response to Bitcoin’s recovery several times in a row this season. For instance, at the time of writing, on the back of Bitcoin’s sort-of price action, the likes of Solana, Polkadot, THETA, and KSM were rallying. These altcoins have gained market capitalization and offered ROIs upwards of 10% inContinue reading “Why Solana, Polkadot, Kusama are likely to continue doing this”

While several combinations of altcoins exist that help lower market risk to some extent. One such combination is MATIC and LINK. The two altcoins have opposite correlations with Bitcoins during its peak and corrections. LINK rallies following BTC dips historically, while MATIC rallies alongside BTC. This is based on their price trend and observations yearContinue reading “MATIC and LINK: How does this combination help traders’ portfolios?”

After trading 10% below the price from last week, Ethereum was at the $2500 level. The price action was largely range-bound and depended on the liquidity and volatility across exchanges. Liquidity continued to remain low; 41% of ETH was concentrated in large investors’ wallets. The accumulation and wiping off of ETH balance from exchanges hasContinue reading “What are the chances of Ethereum hitting $3000 this week?”

The altcoins that suffered a drop in price offer several opportunities for buying the dip. Among top 25, Cardano, Dogecoin, XRP and Uniswap price has dropped in double digits over the past week. Recovery for most other altcoins was overnight at the current volatility and momentum. Bitcoin’s dominance has increased ever so slightly, now atContinue reading “Bitcoin and Ethereum: Is this strategy more profitable than shorting over the next 2 weeks?”

DeFi tokens are rallying, offering double-digit returns in the past week. Less popular DeFi projects with low market capitalization, like Enzyme [MLN], Strike [STRK] and Lido DAO token [LDO] have offered upwards of 15% in the past week. These tokens have gained popularity given the drop in Bitcoin’s price and dominance. The altcoin rally thatContinue reading “LINK, AAVE, SUSHI, CAKE, YFI: These alts are positioned to move in this direction”

Whale activity decides the direction in which Bitcoin’s price moves. This may not be entirely true, however, in the event of a flash crash or price drop, this has the biggest influence on price. The supports and resistances using on-chain metrics data suggest that Bitcoin’s price may continue dropping further, below the $30000 level. However,Continue reading “Bitcoin’s price: Are these metrics the deciding factor this week?”

Altcoin rally that started following May 19’s flash crash has continued and Ethereum, top DeFi projects like LINK, AAVE, CRV and SUSHI have rallied. At the same time, Bitcoin was being moved off exchanges at the highest rate since November 2020. Alongside the price trend, Bitcoin leaving exchanges when Mayer Multiple has dropped under 1.0Continue reading “How Bitcoin leaving exchanges has an impact on Ethereum, Chainlink and other alts”

Bitcoin’s demand across exchanges has dropped according to on-chain metrics. However, historical in/out of money data from IntoTheBlock showed that the inflow was over 70%. This is one of the reasons the price has resisted selling pressure. Bitcoin’s changing financial metrics suggested that the number of addresses profitable at the current price level, making profitsContinue reading “These Bitcoin metrics point to a move to this price level in the next 2 weeks”

Ethereum’s recovery is ongoing with the asset just around the $2,500 level. The market capitalization was at $323.4 Billion, based on data from coinmarketcap.com and with the ongoing rally, the percent ETH balance on exchanges has hit a 2-year low. The Ethereum balance across exchanges continued dropping over the past months, however, it has hitContinue reading “Ethereum on exchanges hit a 2-year low; so what does this mean for its price?”