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Join Our Telegram channel to stay up to date on breaking news coverage Cardano price is trading in the red at $0.38 after rising 7% over the past 24 hours. ADA is trading at a critical level as bears focus on undoing yesterday’s gains. Cardano’s 24-hour trading is up 55% on the day to $512 million with a live market cap of $13.26 billion according to data from CoinMarketCap. Bulls were required to hold the price above the 200-day SMA to secure the recovery.  Growth In Cardano Whale Activity To Fuels ADA’s Uptrend Addresses holding between 1 million to 10 million ADA have been actively transacting the Layer 1 token over the last two weeks. according to data from Santiment, an on-chain blockchain analytics firm, average daily transactions by Cardano whales were about 1,700 in the first half of the month. These transactions amount to around $100,000 or more, five times greater than those recorded in January. Cardano Whale Transactions Source : Santiment ...

Join Our Telegram channel to stay up to date on breaking news coverage A new trend in digital fitness has emerged with the surging popularity of move-to-earn (M2E) apps, potentially transforming the traditional fitness industry. Market reports show the global M2E fitness apps market was valued at $391.7 million in 2021, and is expected to grow at a staggering 18.3% CAGR up to 2030, with cryptos in the form of “fitness coins” helping to drive the excitement. This growth can be attributed to several factors including the widespread adoption of smartphones, growing healthcare spending, increasing obesity rates, and a growing number of athletes using these apps. Innovations in technology, such as machine learning, AI, and augmented reality, have also fueled the shift towards digital fitness, enabling users to exercise at home when they can’t make it to the gym or are concerned about COVID-19. However, the market faces challenges such as digital illiteracy, unreso...

Join Our Telegram channel to stay up to date on breaking news coverage The crypto market is red following the SEC’s recent whipping of Kraken Exchange. However, IMX continues to show an impressive surge even after many cryptocurrencies dipped. The token has risen 54% in 14 days. This has brought mixed feelings. IMX Sustain Surge Despite SECS Warnings  Within just 24 hours of shutting down Kraken’s crypto staking service in the United States and settling for $30 million with a bitcoin trading venue, Gary Gensler, the head of the Securities and Exchange Commission (SEC), issued a cautionary message to other players in the crypto market.   BREAKING: #Crypto exchange Kraken shuts down staking following SEC charges! — Bitcoinsensus (@Bitcoinsensus) February 9, 2023   The SEC came down hard, hitting the Kraken crypto exchange. This incident has shaken the cryptosphere, with many investors shelving their investments in fear of another market cr...

Shiba Inu was all over the headlines after its recent surge in Shiba Inu burn rate , which shot up over 10129% in 24 hours. This was one of the rare moments in 2023 for SHIB. Shiba Inu have been displaying varying burn rates over the past few months. On certain days, the burn rate spikes, whereas it drops considerably on other days. According to the details from Shibburn, the Shiba Inu burn rate has dropped by -88.37% over the past 24 hours. Only 656,009 SHIB was sent to dead wallets during the period. The burn game had ensured maintaining at least a million SHIB burns in 24 hours. However, the burn rate has dropped below the threshold. It is comparatively lower than yesterday, when 5.6 million SHIB were sent to dead wallets. Source: Shibburn Shiba Inu drops as the whole market takes a hit The whole cryptocurrency market has been on a positive run in January, with major coins displaying double-digit gains. However, the recent actions by the SEC on cryptocurrency staking have take...

The cryptocurrency industry endured a terrible period in 2022 as multiple projects tumbled. However, one event that hit the hardest was the failure of FTX. The Sam Bankman-Fried-led exchange found itself in deep trouble. Not only did the exchange go on to file for bankruptcy, but it also took several other firms down with it. The cryptocurrency also registered massive corrections. But, it might have done some good to Bitcoin [BTC] over the long term. The world’s largest cryptocurrency dropped to a low of $15.5K right after the downfall of FTX. The crash was deemed necessary, as the asset is currently on a recovery route. Prominent analyst, Ali Martinez took to Twitter and noted that a whopping 260,000 BTC has been withdrawn from exchanges since Nov.2022. In addition to this, 350,000 BTC were stored outside of centralized cryptocurrency exchanges. Source This wasn’t all. Even though the king coin was impacted by the FTX scenario, it was sought to be beneficial in the ...

Source: AdobeStock / JHVEPhoto The bulk majority of Bank of New York Mellon's clients are interested in investing in digital assets despite the recent market meltdown.  Citing a 2022 study of the custodian bank's clients, BNY Mellon's head of advanced solutions Michael Demissie said clients are "absolutely interested" in digital assets. He argued that digital assets are "here to stay" despite the 2022 market crash that led to the collapse of some major crypto companies.  "What we see is clients are absolutely interested in digital assets, broadly," Demissie said, speaking on a panel on cryptocurrency at Afore Consulting's 7th Annual FinTech and Regulation Conference. However, Demissie noted that a functioning regulatory framework and reliable services that live up to investors' trust are required. "It's important that we navigate this space in a responsible way," he said.  The BNY Mellon survey, conduct...

Join Our Telegram channel to stay up to date on breaking news coverage The Bitcoin price prediction is trading below $23,000 but it could gain bullish momentum if there is a clear move to the upside. Bitcoin Prediction Statistics Data: Bitcoin price now – $22,856 Bitcoin market cap – $441.3 billion Bitcoin circulating supply – 19.2 million Bitcoin total supply – 19.2 million Bitcoin Coinmarketcap ranking – #1 BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $27,000, $28,000, $29,000 Support Levels: $19,500, $18,500, $17,500 The daily chart reveals that BTC/USD could not reclaim the previous resistance level of $23,500 as the Bitcoin price keeps ranging within the channel. However, if the king coin slide below the 9-day and 21-day moving averages, the first support level could be located at $22,500. Beneath this, critical supports could be found at $19,500, $18,500, and $17,500. Bitcoin Price Prediction: Will...

AVAX price has been in a strong rally since the start of 2023, but a sustained uptick in its DeFi components is needed in order to sustain the current bullish momentum. Avalanche (AVAX) witnessed a meteoric start to 2023, gaining 98% in 30 days, and traders are now curious about whether the rally will extend throughout February. AVAX’s year-to-date gains for 2023 have outpaced those of Bitcoin (BTC) and Ether (ETH). Recent reasons for AVAX’s rally can be attributed to an Amazon partnership announcement on Jan. 11. The partnership is meant to easily deploy nodes on the Avalanche blockchain with Amazon Web Services (AWS). Ava Labs, which supports the Avalanche ecosystem, hopes the partnership increases blockchain usage for enterprises and governments. While AVAX price has benefited from the news, some analysts predict that the move could have been a bull trap. Let’s dig into the fundamentals to see if on-chain network activity supports the recent AVAX rally. AVAX fees from DeFi are up ...

The BAYC creators have settled with developer Thomas Lehman over his role in selling a copycat collection of BAYC NFTs. The creator of the nonfungible token (NFT) collection Bored Ape Yacht Club has settled a lawsuit with one of the developers behind a copycat collection known as RR/BAYC.  On Feb. 6, Yuga Labs settled a lawsuit that involved Thomas Lehman, the develop er of websites and a smart contract selling “misleading” BAYC NFTs from digital artist Ryder Ripps. The firm behind the blue-chip collection sued Lehman in January for his involvement and technical support for the collection of mimic monkeys. According to the suit, Lehman assisted Ripps and Jeremy Cahen to develop and promote the NFTs on social media. It claimed that this was a “deliberate effort to harm Yuga Labs at the expense of consumers by sowing confusion,” regarding the two collections. In the settlement, Yuga Labs and Lehman agreed on a permanent injunction barring Lehman from using any “confusingly similar” B...

Join Our Telegram channel to stay up to date on breaking news coverage PAX Gold price shattered a key barrier on December 27, confirming a highly bullish technical setup. The price then rose approximately 9% to highs of $1,889, levels last seen in April. before correcting to the current levels. The recent correction was a result of investors taking profits on the rally to $1,920, but this may be short-lived as it provided an opportunity to buy PAXG at a discount driving the ongoing recovery. PAX Gold Price Must Hold Above The 50 SMA The PAX Gold price was trading above an inverse head-and-shoulders chart pattern; the technical formation was confirmed in late December. This signaled the beginning of a bullish breakout as shown on the daily chart below. This happened once the price closed above the governing chart pattern’s neckline at $1,798.  At press time, the PAXG token was trading at $1,867, a level embraced by the 50-day Simple Moving Average (SMA) after being r...