Bitcoin (BTC) prices briefly fell below $44,000 on Thursday as the United States Dollar strengthened after the U.S. Federal Reserve policy minutes revealed its intentions to limit its bond-purchasing program this year. Bitcoin risks $45,000 becoming new resistance The spot BTC/USD rate dropped 1.71% to a new week-to-date low of $43,955. The pair’s plunge appeared as a part of a technical correction that started after it had reached a three-month high of $48,176 on Saturday, following a 64.42% price rally. Bitcoin’s latest price decline also surfaced in line with a similar market bias on Wall Street. For instance, the benchmark …

Tether Holdings Ltd, the issuer of the largest stablecoin, Tether (USDT), reported that its total market capitalization had crossed $64 billion for the first time in history. The company called the event a “milestone,” adding that it is another indication of the cryptocurrency market’s “continued trust and confidence” in its stablecoin. Tether’s $USDt market cap hits $64B! A new milestone reached and another indication of the market’s continued trust and confidence in #Tether ! pic.twitter.com/t85i6e6UQt — Tether (@Tether_to) August 16, 2021 In detail, Tether’s business model revolves around providing digitized dollars to cryptocurrency traders and investors. In doing so, the …

Bitcoin’s (BTC) 65% recovery from sub-$29,500 on July 20 to a swing high of $48,200 on Aug. 14 took less than a month and helped bring fresh bullish momentum back to the crypto market and to traders who were dreading the prospect of another prolonged bear market. Currently, the BTC rally has stalled out near the $46,000 price level, and this phase of sideways trading is giving altcoins an opportunity to step forward. As shown in the chart below, the total market capitalization of the altcoin market has risen 80% since July 20. Meanwhile, the Bitcoin dominance rate is down …

Solana blockchain’s native asset, SOL, soared to a new record high on Monday. The SOL/USD exchange rate rose by 26.12% to $65.467 on the Binance exchange after traders assessed a flurry of infrastructural developments in the Solana ecosystem, including a recent $70-million crowdfund to support its blockchain-powered decentralized exchange, Mango Markets. Solana ecosystem upgrades Mango offers a platform for spot markets, lending and perpetual futures. It sources liquidity from its native pools and Serum, another Solana blockchain-based exchange, which is backed by billionaire Sam Bankman-Fried’s FTX. The working model is very similar to other successful, Ethereum-based decentralized exchanges such as …

Trading volumes on peer-to-peer nonfungible token (NFT) marketplace OpenSea have surged by over 12,000% in 2021. DappRadar data shows that the total incoming value to OpenSea’s smart contracts increased to $56.07 million on Wednesday compared to $73,556 on Jan. 1. Meanwhile, the marketplace’s user count increased from 315 to 14,520 in the same period — a 4,423% increase. A major portion of OpenSea’s trading volume spike happened after June. At the start of the month, the capital entering the marketplace’s smart contracts was just $3.6 million. But by Sunday, it had surged above $71.238 million. What’s more, on the previous …

The cryptocurrency market has continued a solid bullish trend in early August, with the total market capitalization nearing $2 trillion. According to data from crypto data aggregator CoinGecko, the total crypto market cap broke the $1.9-trillion mark on Monday, retouching this level for the first time since May 18. Starting July 19, cryptocurrency markets recorded a notable rise, with market value surging nearly $700 billion. The market is still down roughly $700 billion from the all-time high of $2.5 trillion recorded on May 11. In line with the strong recovery trend, major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) …

The price of Ether (ETH) jumped to a three-week high on Monday, triggered by similar gains in the Bitcoin (BTC) market that appeared in the wake of rumors about Amazon’s foray into the cryptocurrency sector. A job posting from the retail giant showed that it is seeking an executive to build its “digital currency and blockchain strategy.” Meanwhile, global media reports have been speculating, based on inside sources that Amazon would start accepting Bitcoin as payments. As a result, the BTC/USD exchange rate surged to its six-week high after the news. Ether, whose 30-day correlation with Bitcoin stands at 88%, …

Ether (ETH) prices slid on Tuesday in tandem with Bitcoin’s (BTC) drop below $30,000. The ETH/USD exchange rate dropped 5.41% to an intraday low of $1,720 — or roughly $400 above its 2018 all-time high price — which should serve as an important psychological support level. The pair’s bid had climbed to as high as $1,994 on the Coinbase exchange on Sunday. Meanwhile, its price action looked strikingly similar to Bitcoin’s, the flagship cryptocurrency that topped at $32,450 on Sunday but later corrected to as low as $29,507 during the Tuesday session. The plunge also followed the Ethereum network’s co-founder …

Bitcoin’s (BTC) price continued its downtrend Wednesday ahead of the testimony from United States Federal Reserve Chairman Jerome Powell. The spot BTC/USD exchange rate fell to its 17-day low of $31,600 following a 3.46% intraday dip. Meanwhile, CME futures tied to the pair plunged 3.41% to $31,515, extending their week-to-date losses to 9.5%. Bitcoin had powered to $35,000 at the beginning of July, as bulls continued to defend support levels around $30,000 against each downside attempt. Independent market analyst Will Clemente III noted that entities with a low history of selling kept absorbing Bitcoin at lower levels from speculative traders, …

Bitcoin (BTC), the largest cryptocurrency by market capitalization, has already started losing its market dominance to Ether (ETH), according to Celsius Network CEO Alex Mashinsky. In a Monday interview with Kitco News, Mashinsky argued that the Ether “flippening,” or the hypothetical scenario in which Ether overtakes Bitcoin as the world’s most valued cryptocurrency, is already happening right now. Mashinsky said that the flippening has already happened on Celsius. “We manage about $17 billion in deposits, or in customer coins, and the number one coin held in dollar terms is Ethereum,” he said. Mashinsky also predicted that Ether will have completely …

Synthetix (SNX) spiked to its three-week high on Monday in reaction to a market-wide upside correction led by Bitcoin (BTC) and other top-cap digital assets. The Synthetix project’s native token reached $9.59 after rising four days in a row by up to 50%. That included a sharp 18.29% upswing in the previous daily session, sparked by Bitcoin’s climb above its key resistance level of $35,000. Altcoins tend to tail the flagship digital asset’s price trends. But more factors were in play during SNX’s comparatively higher price boom. Its jump appeared as speculators returned to bet bullishly on the overall decentralized …

Bitcoin (BTC) plunged 7.38% to hit a five-month low of $29,313 on June 22 as the market faced the prospect of another sell-off, this time led by miners affected by a recent crackdown against cryptocurrency entities in China. The People's Bank of China said on June 21 that it had summoned multiple regional institutions — including the Agricultural Bank of China, China Construction Bank, Industrial and Commercial Bank of China, and Jack Ma's payment platform, Alipay — to “strictly implement” its recent ordinances on curbing Bitcoin- and other cryptocurrency-related activities, including mining. The Sichuan province, a hydropower-rich region in Southwest …