ETHW has logged a significant price rebound despite its blockchain network, ETHPoW, suffering a smart contract hack in the first week of its launch. The short analysis of the attackhttps://t.co/87OVRqaYb2 https://t.co/vhRJyZVc72 — BlockSec (@BlockSecTeam) September 18, 2022 Bull trap risks surround ETHW market ETHW rebounded more than 150% eight days after the attack and traded for around $10.30 on Sep. 27. Fundamentally, this suggests that traders ignored the hack and trusted ETHPoW's long-term viability as a blockchain project. But from a technical perspective, the ETHW price rally has accompanied weaker trading volumes. In other words, fewer traders have been involved …

Cardano's (ADA) long-awaited Vasil update went live on Sep. 22, which promises to make its blockchain more scalable and cheaper than before. However, this has failed to bring bullish momentum to the ADA market. Sell-the-news hampers Cardano ADA's price has dropped by approximately 9.5% since the update and was changing hands for $0.43 on Sep. 26. The ADA/USD pair's drop was accompanied by a rejection candlestick on its daily price chart, confirmed by a brief rally to $0.48 on the day of the fork and a sharp correction thereafter. ADA bulls' muted reaction to the successful Vasil update is similar …

It’s time to move on from the Bored Ape Yacht Club. They’re bad for nonfungible tokens (NFTs). They give critics ammo and distract from the technology, which is where the real value lies. For those on the outside looking in, NFTs are nothing more than overpriced monkey JPEGs. Or whichever choice of animated animal profile picture is in the firing line. NFTs, of course, are much more than that. But, because of Bored Apes, and the countless imitations they’ve spawned, NFTs are getting a bad rep. “Bubble,” “money laundering” and “scams” are all terminology associated by critics with the new …

A Bitcoin (BTC) on-chain indicator, which tracks the amount of coin supply held by long-term holders (LTH) in losses, is signaling that a market bottom could be close. Eerily accurate Bitcoin bottom pundit As of Sep. 22, approximately 30% of Bitcoin's LTHs were facing losses due to BTC's decline from $69,000 in November 2021 to around $19,000 now. That is about 3%-5% below the level that previously coincided with Bitcoin's market bottoms. For instance, in March 2020, Bitcoin price declined below $4,000 amid the Covid-19-led market crash, which happened when the amount of BTC supply held by LTH in loss …

Some may argue that the Metaverse has been around for years, as demonstrated by early gaming platforms, yet virtual ecosystems are now being embraced by almost every industry. A recent report from consulting firm McKinsey & Company believes that the Metaverse has the potential to generate at least $5 billion in value by 2030. McKinsey also found that investments exceeding $120 billion have been put toward Metaverse platforms this year, indicating that major growth is underway. While notable, there is still the perception that most metaverse platforms are lacking when it comes to graphic quality. For example, Mark Zuckerberg was …

Ethereum's Merge on Sep. 15 turned out to be a sell-the-news event, which looks set to continue. Notably, Ether (ETH) dropped considerably against the U.S. dollar and Bitcoin (BTC) after the Merge. As of Sep. 22, ETH/USD and ETH/BTC trading pairs were down by more than 20% and 17%, respectively, since Ethereum's switch to Proof-of-Stake (PoS. What's eating Ether bulls? Multiple catalysts contributed to Ether's declines in the said period. First, ETH's price fall against the dollar appeared in sync with similar declines elsewhere in the crypto market, driven by Federal Reserve's 75 basis points (bps) rate hike. Second, Ethereum …

Bitcoin (BTC) retreated and reversed its intraday gains after the Federal Reserve announced its third consecutive 75 basis point (bps) interest rate rise on Sep. 21. Traders sold the news BTC's price dropped circa 6.5% from its intraday high of $19,950, hitting $18,660 minutes after the Federal Open Market Committee's statement. Its decline mirrored a similar sudden correction in the U.S. stock market, with the benchmark S&P 500 dropping 0.5% minutes after the Fed update. On the other hand, the 10-year U.S. Treasury note yield surged to 3.6% after the Fed's announcement versus 3.56% five minutes before it. Similarly, the …

Bitcoin (BTC) underwent a weak rebound on Sep. 21, and the U.S. dollar jumped to a new yearly high as investors await today's Federal Open Market Committee's interest rate decision. BTC price hold $19K ahead of Fed decision BTC's price has managed to cling on to $19,000 with a modest daily gain of 1.33% . Meanwhile, the U.S. dollar index (DXY), which measures the greenback's strength versus a pool of top foreign currencies, rose to 110.86, the highest level in twenty years. FOMC rate hike scenarios The Federal Reserve is poised to discuss how far it could raise its benchmark …

Bitcoin (BTC) recovered above the $19,000 mark on Sep. 20, a day after falling to its lowest level in three months. Bitcoin struggles after dropping below $20K On the daily chart, the BTC price rose from $18,255 to $19,650. This 7.5% price rebound mirrored similar rebound moves witnessed in the stock market, suggesting that investors have been coming to terms with another significant rate hike by the Federal Reserve expected on Sep. 20-21. However, opinions differ on the longevity of Bitcoin's rebound. Independent market analyst Jonny Moe stressed that BTC's ongoing price action is similar to its sideways consolidation moves …

XRP pricewas wobbling between profits and losses on Sep. 19 despite hopes that Ripple would eventually win its long-running legal battle against the U.S. Securities and Exchange Commission (SEC). Ripple and the SEC both agreed to expedite the lawsuit on Friday to get an answer on whether $XRP is a security or not. From the updates of the case, it sounds like it’s in the favor of @Ripple pic.twitter.com/SAyl4VLxdM — Jeff Sekinger (@JeffSekinger) September 19, 2022 Fed spoils SEC vs. Ripple euphoria The XRP/USD pair dropped by over 1% to $0.35 while forming extremely sharp bullish and bearish wicks on …

Bitcoin (BTC) and Ethereum's native token, Ether (ETH), started the week on a depressive note as investors braced themselves for a flurry of rate hike decisions from central banks, including the U.S. Federal Reserve and Bank of England. Bitcoin price fails to hold $20,000 On Sep. 19, BTC's price has failed to regain the $20,000 psychological support zone. The BTC/USD pair slipped by 6.5% to around $18,250, while ETH dropped 4% to approximately $1,280. Their gloomy performance came as a part of a broader decline that started in mid-August, wherein BTC and ETH wiped a total of 28% and 37% …

A sequence of macro warnings coming out of the Goldman Sachs camp puts Bitcoin (BTC) at a risk of crashing to $12,000. Bitcoin in "bottom phase?" A team of Goldman Sachs economists led by Jan Hatzius raised their prediction for the speed of Federal Reserve benchmark rate hikes. They noted that the U.S. central bank would increase rates by 0.75% in September and 0.5% in November, up from their previous forecast of 0.5% and 0.25%, respectively. Fed's rate-hike path has played a key role in determining Bitcoin's price trends in 2022. The period of higher lending rates — from near …