The amount of Bitcoin (BTC) flowing out of cryptocurrency exchanges picked up momentum on Oct. 18, hinting at weakening sell-pressure that could help BTC price avoid a deeper correction below $18,000. Bitcoin forming a "bear market floor" Over 37,800 BTC left crypto exchanges on Oct. 18, according to data tracked by CryptoQuant. This marks the biggest Bitcoin daily outflow since June 17, on which traders withdrew nearly 68,000 BTC from exchanges. A spike in Bitcoin outflows from exchanges is typically seen as a bullish signal because traders remove the coins from platforms that they wish to hold. Conversely, a jump …

XRP XRP has made considerable gains over the past month as traders continue to shower confidence on Ripple's legal win against the U.S. Securities and Exchange Commission (SEC). For instance, XRP price has gained 25% thirty days after Ripple and the SEC filed for an immediate ruling on whether or not XRP sales violated U.S. securities laws. In comparison, Bitcoin BTC and Ether ETH are down 4% and 11% over the same period, respectively. Now, a flurry of indicators, ranging from on-chain to technical, hints XRP can continue its uptrend going into 2023. XRP price "bull pennant" Bull pennants are …

Tailoring his argument to many of the companies that were market leaders at the time, his ideas eventually also applied to companies that either hadn’t fully defined their markets or didn’t even yet exist but would go on to generate billions in market share: Uber, Lyft, TikTok/ByteDance, Robinhood and Coinbase, among several others. If you were going to be a unicorn in the 21st century, software was probably going to be a key part of earning that horn. The hidden motor behind this complete disruption of modern economies and life was the emergence of true cloud computing and cloud giants, …

Ethereum's native token, Ether (ETH), looks ready to undergo a massive rally due to a mix of technical and fundamental factors. From a technical perspective, ETH's price now eyes a 35% rebound by the end of October after holding testing a key support level. This level is a rising trendline that has capped Ether's downside attempts since June 2022, as shown below. In other words, traders have shown interest in buying Ethereum tokens near this level in recent weeks. Meanwhile, the accumulation sentiment has prompted the price to rise toward another significant level — a horizontal trendline resistance near $1,800, …

The function of crypto wallets has changed significantly over the last few years. They initially secured token holdings or served as art galleries with nonfungible tokens (NFTs). Today, they’ve become like bank accounts for many, and soon, they will offer even more functionality by enabling digital curriculum vitae (CVs). In a May 2022 paper, Ethereum co-founder Vitalik Buterin and others introduced the concept of “Soulbound tokens” (SBTs). Buterin and his co-authors argued that credentials on a blockchain offer many advantages to establishing provenance and reputation. Nonfungible tokens will serve as essential building blocks Related: Facebook and Twitter will soon be …

Huobi Token (HT) has been up 12% in the last 24 hours and is one of the few cryptocurrencies bucking the general downtrend. Trading at over $7, HT's price is up over 80% since the beginning of this week, which is also its best weekly performance since February 2021. HT's intraday gains coincide primarily with crypto exchange Huobi Global announcing the opening of Starfish Finance (SEAN) spot trading on its platform. Plans to "empower" HT Additionally, HT's impressive weekly gains were related to About Capital Management. On Oct. 8, this Hong Kong-based investment firm announced purchasing Huobi Global, one of …

Decentralized finance (DeFi) led cryptocurrency’s rapid growth in early 2021, but the crypto market has since plummeted in value. Global markets have played a role, but so has recklessness among developers when it comes to both cybersecurity and (often self-serving) inflationary token models. Too much DeFi has been based on tokens minted from nothing or tokens that finance other tokens at high interest rates, with no part of the entire activity having any real underlying economic activity to back the yields offered. Secondly, security issues, hacks and exploits of DeFi contracts and bridges have been widespread, and most notable DeFi …

Some critics deem nonfungible tokens (NFTs) to be totally worthless. They don’t see the point. Why should they? The industry hasn’t covered itself in glory with countless rug pulls and celebrity endorsements with prompt pump-and-dumps. But, this is missing the point. Already most of the digital and physical objects we use in real life are unique, they are not fungible: this means they cannot be copied, substituted or subdivided. Detractors might still say, well, what’s the point? NFTs are immutable and verifiable assets on the blockchain — these sound like industry buzzwords with little meaning. However, they go a long …

In this week’s episode of Market Talks, we welcome Rekt Capital, a cryptocurrency analyst who shares macro research, commentary and technical analysis related to crypto markets. He publishes a popular newsletter and provides courses that help educate traders on how to make informed decisions when buying and selling cryptocurrencies. He has more than 328,000 followers across his various social media platforms, many of whom are prominent individuals, including big names like Binance CEO Changpeng Zhao. First things first, we have officially entered Q4 2022 and, more importantly, October, which has historically been a bullish month for cryptocurrencies. We ask Rekt …

Public blockchains can be accessed and read by anyone but creating meaningful insights from this data is no mean feat. Millions of transactions are recorded across a variety of chains and layer-2 protocols, creating petabytes of data daily. Services like Google transformed the early internet, accomplishing a significant engineering task by structuring and curating millions of websites to serve simple user queries. A handful of blockchain analytics platforms are looking to do the same, with Nansen distinguishing itself by processing on-chain data into a growing database of wallet labels. Cointelegraph visited the Singapore office of the growing firm during Token2049 …

Crypto lending firm Nexo (NEXO) risks losing half of its valuation by the end of 2022 as doubts about its potential insolvency grow in the market. Is Nexo too centralized? For the unversed: eight U.S. states filed a cease-and-desist order against Nexo on Sep. 26, alleging that the firm offers unregistered securities to investors without alerting them about the risks of the financial products. In particular, the regulators in the state of Kentucky accused Nexo of being insolvent, noting that without its namesake native token, NEXO, the firm's "liabilities would exceed its assets." As of July 31, Nexo had 959,089,286 …

Human rights investigators appointed by the United Nations (UN) have confirmed war crimes have been committed by Russian forces in Ukraine. A report developed by the Independent International Commission of Inquiry on Ukraine was created in March 2022 to provide a framework for UN human rights investigators to report war crimes in the region. Erik Møse, chair for the Independent International Commission of Inquiry on Ukraine, stated in the UN’s article that “investigators visited 27 towns and settlements and interviewed more than 150 victims and witnesses.” Møse also noted that “sites of destruction, graves, places of detention and torture, as …