Plunge

Polkadot (DOT) has climbed back above $4 after dipping below the crucial support level on Friday when sellers dragged the price to a low of $3.82. DOT has struggled in recent months, losing the $5 price level at the beginning of August and dipping to its multi-year support level of $3.62. It recovered from this low, charting a steady path back towards $5. By August 24, DOT reached a high of $5.11 before turning bearish and slipping below $4 during…

Bitcoin (BTC) is on the edge of the cliff once again. The last chance saloon of around $55,800 is all that is holding Bitcoin up. If the price falls through this last support, there is nothing to catch it before it falls to $52,000. Is the plunge about to take place? Jobs data out on Friday - 50 basis point rate cut becoming likely? With a nervously awaited non-farm payroll report being released later on Friday, and the U.S. stock…

Much like Bitcoin, Ethereum has faced significant challenges in recent months, struggling to sustain any major price rally. After reaching a peak of over $4,000 in March, Ethereum has been consistently declining, failing to break out of this bearish trend. So far, the second-largest cryptocurrency by market cap has seen its price drop by over 5.9% in the past two weeks, and it continues to hover around the $2,400 mark. Currently trading at $2,434, Ethereum has fallen 2.4% in the…

The post Ethereum Lending Markets Face 2nd Largest Liquidation in History Amid ETH Plunge! appeared first on Coinpedia Fintech News The Ethereum on-chain lending markets witnessed the 2nd largest wave of liquidations, after the 2021 market correction. The sharp move comes with the Ethereum token price falling 22% month-over-month, with the lowest price point marking a 35% drop. The massive sell-off triggered liquidations worth $436 million throughout Ethereum’s lending platforms. On the contrary, AAVE took a massive hit for $289…

The post Could Cardano (ADA) Price Fall 90%? Blockstream CEO Predicts Massive Plunge appeared first on Coinpedia Fintech News Adam Back, the Blockstream CEO and a prominent figure in the Bitcoin community, has made a bold and alarming prediction about Cardano (ADA). According to Back, ADA, the native token of the Cardano blockchain, could see its price plummet by as much as 90%. This forecast comes amidst a heated debate within the cryptocurrency space, particularly in light of recent comments…

Data shows that Bitcoin (BTC) Open Interest plummeted during the latest market retrace, but Solana (SOL) and Ethereum (ETH) have been resilient. Solana & Ethereum Open Interest Has Only Seen A Mild Retrace According to data from the analytics firm Santiment, Bitcoin has seen its Open Interest plunge after the pullback in its price. The “Open Interest” here refers to a metric that keeps track of the total amount of derivatives positions related to a given asset (in USD) currently…

The post Ethereum’s Gas Fees Plunge to Five-Year Lows, Eyes on $2,300 appeared first on Coinpedia Fintech News Amid this ongoing market downturn, recently Ethereum (ETH) is gaining significant attention from the crypto community. On August 19, 2024, the on-chain security analytic firm Kaiko made a post on X (previously Twitter) stating that Ethereum’s gas fees have made a five-year record low. Ethereum’s Gas Fees Hit Five-Year Lows According to Kaiko, this record decline in gas fees means less ETH…

Ethereum (ETH) price has struggled amid another market shakeout. The second-largest cryptocurrency by market capitalization fell below the $2,600 support zone for the third time in the past week, prompting crypto analysts to evaluate the next levels to watch out. ETH’s Key Support Zone To Watch Out The crypto market has seen several retraces throughout the cycle, with cryptocurrencies like Ethereum significantly decreasing from its Q3 opening. Since July 1, the “king of altcoins” has seen a 24% drop from…

According to on-chain data, the US government transferred 10,000 Bitcoin (BTC) to Coinbase Prime, an institutional trading platform. This transaction, worth approximately $593.5 million, notably influenced the crypto market trends. The Bitcoin originated from the Silk Road DOJ Confiscated Funds, a government-managed account. Is the US Government Planning to Sell Bitcoin? Observers are speculating about the government’s motives, as such deposits to exchanges typically suggest a potential sale. However, the context indicates a strategy more aligned with custodial intentions, particularly…