Stacks is one of the first blockchains to enable a way for minting Bitcoin (BTC) Ordinals, which puts it in an excellent position to benefit from the hype. However, Ordinals have invoked an issue from the past where Bitcoin maximalist ideologies will be tested if the NFTs lead to network congestion. On top of that,…
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Bitcoin’s (BTC) recent price rally from $16,500 to $25,000 can be attributed to a short squeeze in the futures market and recent macroeconomic improvements. However, while prices increased, data suggests that many interested buyers (including whales) were left on the sidelines. The recent rally to $25,000 shared many similarities with the 2019 bear market rally,…
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Bitcoin’s Lightning Network (LN) capacity recently surpassed an all-time high of 5,000 BTC. The Lightning Network is a neutral protocol built on top of Bitcoin and currently it does not have a “native” token attached to it like many decentralized finance platforms. Although the Lightning Network’s total liquidity is less than 0.5% of the ETH…
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Ether (ETH) fell short of a bullish breakout based on technical and on-chain analysis, suggesting that the consolidation below the $2,000 price level could continue in the medium term. At the same time, a lack of sellers and strong fundamentals will likely protect Ether from steep declines. Ethereum encounters resistance at long-term bullish reversal points…
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The memecoin phenomenon didn’t prove as effective in the last month’s start of year crypto market rally, as the gains of the top cryptocurrencies in this category barely outperformed Bitcoin. The monthly gain of BTC stood at 44.5%, while the top two meme-based coins DOGE and SHIB gained 27% and 40.7%, respectively. Top meme-coins by…
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The rally in cryptocurrency markets started in early January with a spike in heavily-shorted altcoins and Ethereum (ETH) liquid staking derivative (LSD) tokens due to the upcoming network upgrade in March. Soon gains started to show across the board as buyers started to play catch up. The improving macroeconomic conditions, such as reduced inflation and…
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Bitcoin mining stocks usually follow BTC’s price because it directly influences the company’s earnings. These stocks were beaten down heavily in the last quarter of 2022, especially in the month of December. The downturn after FTX’s collapse worsened with the bankruptcy filings of the largest U.S.-based Bitcoin mining company, Core Scientific. During this time, other…
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For much of 2022, the crypto market focused on the U.S. Federal Reserve’s actions. The central bank created a bearish environment for risk-on assets like stocks and cryptocurrencies by increasing the interest rates on borrowing. Toward the end of 2022, positive economic data, healthy employment numbers and a decreasing inflation rate provided hope that a much-awaited…
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Bitcoin’s mining industry has been relatively stable compared to the bearish price action and the tumultuous fallout of exchanges and lending companies. The network’s hashrate dipped slightly toward the end of 2022, primarily due to an unprecedented blizzard in the U.S., and has since recovered strongly to surpass its previous peak above 270 EH/s. It…
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Bitcoin’s (BTC) price has followed a four-year cycle with consecutive bull and bear trends occuring in somewhat measurable intervals. A closer look at Bitcoin’s long-term price action reveals that the run-up to the top and bottom of the previous cycles look remarkably similar. What’s more interesting is that the 2020 to to2021 cycle shows signs…
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