Author: Benjamin Lee
A widely followed crypto analyst says that Ethereum and altcoins are bracing for a swing to the upside as ETH prints the same pattern it did in 2020. In a new video update, crypto strategist Jason Pizzino tells his 344,000 YouTube subscribers that the Ethereum/Bitcoin (ETH/BTC) pair is flashing a “major altcoin signal.” However, he warns that altcoins still have a bit further to drop before market sentiment turns around and sparks a rally. “ETH/BTC in November got a bounce but again it still has not broken past at least the 4% level and the major level that I’m watching for…
Digital assets manager CoinShares says institutional investors poured hundreds of millions into crypto investment vehicles last week in spite of market-wide sell pressure. In its latest Digital Asset Fund Flows report, CoinShares says that last week, institutional crypto investment products saw net inflows of $308 million. “Digital asset investment products saw a continuation of inflows last week totaling US$308m, although this masks the largest single day of outflows on the 19th December totaling US$576m, with total outflows in the final 2 days of last week at US$1bn.” Source: CoinShares According to CoinShares, last week’s hawkish Federal Open Market Committee (FOMC) release…
Binance, the top global crypto exchange by trading volume, is rolling out support for the new native token of a “decentralized science” project. Binance Launchpool, which lets users stake coins to farm new assets, says its 63rd project will be BIO Protocol (BIO), a decentralized platform aiming to advance biotechnology through collective funding and the tokenization of biotech projects. Says the project, “BIO is a curation and liquidity protocol for decentralized science (DeSci). Our mission is to accelerate biotechnology by giving global communities of patients, scientists and biotech professionals the ability to collectively fund, build and own tokenized biotech projects…
The team behind the largest decentralized crypto exchange (DEX) by trading volume is confirming the launch of its highly-anticipated layer-1 blockchain Unichain. In a new blog post, Uniswap Labs says that, after the successful public testnet phase of the Unichain launch, the launch of a public mainnet is the next step. The firm says Unichain will begin its transition to mainnet on January 6, 2025. “The next major milestone focuses on decentralization, which is core to Unichain. Mainnet will go live with Permissionless Fault Proofs on day one, allowing anyone to verify the chain’s activity. This process will begin on…
Bitcoin led a crypto market correction early Monday, taking BTC to the $92,762 level and putting it down over 12% over the last seven days. At the tail end of the weekend, well-known blockchain security expert Taylor Monahan who works for crypto wallet MetaMask reported that several addresses linked to the DPRK were trading on Hyperliquid, a decentralized perpetuals exchange with its own chain. Monahan said the North Koreans were likely testing out the network before considering it as a target for their next attack. In its Discord channel, Hyperliquid disagreed with Monahan’s analysis and said that there was no…
BitMEX co-founder Arthur Hayes was spotted moving millions of dollars worth of altcoins to crypto exchange Binance. According to blockchain tracking firm Lookonchain, Hayes sent over $8.47 million worth of Ethena (ENA) to Binance, presumably to sell on the open market. “Arthur Hayes previously accumulated 16.79 million ENA ($11.21 million) at $0.67 between Nov 26th and Nov 28th, making a profit of $7.7 million at the current price.” Source: Lookonchain/X According to blockchain “de-anonymizing” service Arkham, Hayes also sent an additional $2.42 million worth of ENA to another wallet containing over $11 million worth of crypto. Arkham notes that the…
The creators of the crypto analytics firm Glassnode are warning that altcoins could lose all bullish momentum following last week’s market correction. Jan Happel and Yann Allemann, who go by the handle Negentropic on the social media platform X, tell their 63,400 followers that “altcoin season,” which they say began in late November, could come to an abrupt end after alts witnessed deep pullbacks over the last seven days. According to the Glassnode co-founders, traders and investors will likely have a risk-off approach on altcoins unless Bitcoin recovers a key psychological price point. “Is This the End of Altcoin Season?…
Bitwise CIO Matt Hougan says a wave of institutional interest in altcoins is coming next year, largely due to potential regulatory clarity and more exchange-traded funds (ETFs). In a new interview with Bloomberg, Hougan says that institutional money is in the early stages of broadening out to other crypto assets besides just Bitcoin (BTC). Hougan forecasts that 2025 will be the year that institutional investors will begin to incorporate more diversification in their crypto-investing strategies the same way they do in other asset classes like equities or bonds. “You’re already seeing it broaden out actually. A lot of people were…
New data from market intelligence firm Santiment reveals one altcoin that has seen massive gains this year is rife with whale activity. In a new thread on the social media platform X, Santiment says that among altcoins with at least a $500 million market cap, tokenized artificial intelligence (AI) project Virtuals (VIRTUAL) – an asset that’s up a staggering 20,000% year-to-date – is one of the leaders in terms of whale activity. Santiment also says high-net-worth investors are making moves to accumulate 10 digital assets including VIRTUAL during the latest crypto market crash. “Despite sizable crypto corrections this week, several…
Veteran trader Peter Brandt is warning that a bearish signal is flashing for Bitcoin, indicating that BTC might head to much lower prices. Brandt tells his 763,600 followers on the social media platform X that Bitcoin may be forming a bearish reversal pattern on the daily chart that could lead to a dip into the $70,000 range. “Hey trolls, this is not a prediction. Just always pointing out possibilities, not probabilities, not certainties. No screenshot is necessary. BTC right-angled broadening triangle could project back into the $70,000s and a test of the parabolic modality.” Source: Peter Brandt/X Looking at the…