Avalanche’s AVAX token looks poised to hit $80, as per a classic technical pattern, after hitting a new high of over $65 on Sept. 12. Dubbed as a “bull flag,” the structure emerges as a brief sideways/downward trend following a strong price move higher. As a result, bull flags tend to look like downward sloping channels, represented by two parallel trendlines that trap the price action. Additionally, a market’s underlying trade volume dries up as prices move lower, indicating weakness in the downtrend. Therefore, bull flags typically resolve following a break above their upper trendlines, with prices pushing as high …

A sharp sell-off across the cryptocurrency market on Tuesday — that saw top tokens Bitcoin (BTC), Ether (ETH), Cardano (ADA) and Solana (SOL) fall by double-digital percentages — created a venue for stablecoins to prove their worth. The fixed-price cryptocurrencies offered interim protection to traders from the notorious crypto price volatility. They did so by almost maintaining their one dollar-peg and offering sufficient liquidity to traders who looked for a safety net during the market decline. Blockchain analytics service CryptoQuant reported dramatic spikes in stablecoin transfers as the cryptocurrency market capitalizati fell from $2.38 trillion to $2.103 trillion on Tuesday. …

Bitcoin (BTC) and spot gold hovered below their key psychological levels on Wednesday as a stronger United States dollar weighed on investors’ appetite for hedging assets. The BTC/USD exchange rate dropped 5.27% to its intraday low of $44,423 but recovered a portion of those losses after reclaiming the $45,000–46,000 range as support. The pair’s recovery also came as an extension to its ongoing rebound from $42,830, a level it reached on Tuesday after falling by more than 18% in the session. Bitcoin’s massive sell-off coincided with a strikingly similar but dwarfed decline in the rivaling gold market. In detail, the …

Chainlink emerged as one of the best cryptocurrency performers on Sept. 6 as the price of its LINK token jumped 8.25% against the U.S. dollar. The LINK/USD exchange rate reached $36.35 for the first time since May 20, months after bottoming out near $13.45 — thus recovering by more than 170% altogether. At the same time, its recent bout of buying saw prices bringing in about 36% month-to-date returns. Ecosystem growth Optimism Ethereum announced on Sept. 1 that it had integrated Chainlink's market-leading decentralized oracle solutions to its Ethereum layer-two services. As a result, LINK — which serves as a …

FTX crypto exchange’s native utility token, FTT, reached a new record high on Monday a week after it agreed to acquire LedgerX, a United States-based crypto derivative platform, for an undisclosed sum. On Monday, the FTT/USD exchange rate surged 16.37% to $73.99 in a market-wide rally that saw other top coins post similar but dwarfed price rallies. Additionally, the pair’s intraday climb coincided with gains among top exchange tokens, with Binance Coin (BNB) rising 2.3% and Uniswap’s UNI recording 3.5% profits on a 24-hour adjusted timeframe. LedgerX acquisition The news of FTX’s Ledger acquisition served as the primary bullish backdrop …

The S&P 500 slid to the intraday highs of Sept. 2 while Bitcoin (BTC) climbed to its highest levels in more than three months. The moves came as a key report on Sept. 3 showed that the United States economy added fewer jobs than anticipated, lowering the Federal Reserve's likelihood to start unwinding its stimulus program this year. The U.S. Bureau of Labor Statistics revealed that nonfarm payrolls (NFPs) grew by 235,000 in August, against expectations of 733,000 positions. Nevertheless, the unemployment rate inched lower to 5.2% from the previous month's 5.4%. OUCH! US economy adds just 235,000 jobs vs …

The amount of Ether (ETH) held by all cryptocurrency exchanges has declined dramatically in the previous 12 months. Blockchain analytics firm CryptoQuant reported that Ethereum reserves on trading platforms dropped 26.29 million ETH to 19.22 million ETH year-on-year (YoY), indicating that traders' preference to hold their tokens increased. At least the Ether price performance in the same period indicates the same. Between August 25, 2020, and press time, the ETH/USD exchange rate exploded by a little over 730%— from $407 to $3,190, signaling an erratic inverse correlation between the Ethereum token prices and its reserves across all exchanges. In detail, …

CoinMarketCap (CMC) has launched a token swap feature on its website through an integration with decentralized exchange Uniswap. CMC is one of the most well known crypto market data aggregators in the industry and has been owned by Binance since April 2020. The site’s Ethereum-based token pages now include a swap icon, enabling users to connect a wallet and swap between ERC-20 tokens. The platform supports wallets from MetaMask, Coinbase, Fortmatic, Portis, and WalletConnect. We're incredibly excited to see Uniswap integrated natively into @CoinMarketCap Token pages now have a "Swap" icon allowing users to connect to an Ethereum wallet and …

Internet Computer (ICP) rose to spotlight among day-traders after rising 41.69% on Sunday. The ICP/USD exchange rate closed the session at $42.98 after correcting lower from its intraday high of $45.01. At its quarter-to-date low, the pair was trading at $28.31. Meanwhile, on Monday, it surged to a new intraday high of $47.63. Therefore, its latest rebound returned as much as 68.27% in paper profits. The major price retracement in the Internet Computer market also followed a steeper 95% decline since ICP's debut more than a month ago across leading cryptocurrency exchanges, including Binance and Coinbase. Therefore, the cryptocurrency's revenge …

Bitcoin (BTC) and the wider cryptocurrency experienced another wave of overnight selling which deepened on May 23 as the majority of tokens pummeled to multi-month lows. The market-wide sell-off resulted in the total cryptocurrency market cap shedding another $250 billion in value to $1.33 trillion. The total market cap has now experienced a 46% pullback from the May 11 all-time high at $2.56 trillion, but the stunning turn of events has left the vast majority of traders scrambling to lock in any gains experienced during the run up. This newest wave of selling pressure managed to successfully break below the …

As the price of Bitcoin (BTC) dove to prices not seen since February, site traffic on major crypto exchanges and websites have surged, seemingly causing outages, intermittent access and slower loading times. Earlier on Wednesday, users of Coinbase and Binance experienced delays in Ether (ETH) and ERC-20 token withdrawals “due to congestion on the Ethereum network,” according to the status pages of both major cryptocurrency exchanges. Purportedly for the same reason, Coinbase users still have only intermittent access to the website and mobile app while crypto analytics site CoinMarketCap and crypto exchange Kraken both briefly went down, leaving crypto users …

Having emerged with the self-applied moniker of “Dogecoin Killer,” the latest cryptocurrency to succeed on laughs alone is making its way to Binance. Shiba Inu (SHIB) burst into CoinMarketCap’s top 20 rankings just two days ago, likely a response by traders to the hype surrounding Dogecoin (DOGE). Within 48 hours, the SHIB token went from a valuation of $0.000003 to $0.000032 — a 966% increase, which added to over 2,300,000% growth since the start of the year. When Binance announced it would list SHIB in its innovation zone (a high-risk trading feature) on Monday morning, the token’s valuation more than …