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SOL price is more than 60% away from its all-time high and data shows that it's not the network outages but the loss of territory to competing chains driving the correction. The past couple of months have not been kind to cryptocurrencies. The sector's aggregate market capitalization plunged 50% from a Nov. 10 peak at $2.87 trillion to the current $1.44 trillion. Solana's ( SOL ) downfall has been even more brutal, presently trading at $88 after a 66% correction since its $260 all-time-high. Pinning the underperformance exclusively to the recent network outages seems too simplistic, and it doesn't explain why the accelerated decoupling over the past week, so let's take a look at what might be going on. Solana/USDT at FTX (blue) vs. Total crypto capitalization (orange). Source: TradingView The Solana network suffered four incidents in the span of a few months. According to the project's developers, a sudden spike in the number of computing transactions ca

So many drops, and too many missed mints? Whitelist Watch has you covered when it comes to keeping a pulse on upcoming NFT projects. Nonfungible token (NFT) projects seem to have been diverted from what was once traditional minting to nowrequiring potential buyers to join whitelists to access the pre-sale before the collection goes public.  This means investors keen on obtaining a sharper edge aim to get on as many whitelists as possible to increase their potential return-on-investment when the NFT is eventually sold on the secondary market. CryptoBatz are being minted today on their website for their whitelist holders today for 0.088 ETH ($283.55 USD). Their current floor price on Opensea, 1.99 ETH ($6,412.04 USD). ROI = 2,261.34% What a time to be a whitelister. Who's got one? #cryptobatz #ozzy pic.twitter.com/YrwUAXSZ4e — Hankus NFT's (@hankuspankus_) January 20, 2022 Navigating through an increasing amount of whitelist prospects can be daunting. Sorting thro

The ETN will contain exposure to seven different major cryptocurrencies. On Monday, VanEck, a financial institution with close to $82 billion in assets under management with exchange-traded funds, or ETFs, mutual funds and institutional accounts, announced the launch of its first cryptocurrency fund. The fund is listed as an exchange-traded note, or ETN, on the Deutsche Borse Xetra and SIX Swiss exchanges with exposure to Bitcoin ( BTC ), Ethereum ( ETH ), Polkadot ( DOT ), Solana ( SOL ), Tron (TRX), Avalanche ( AVAX ) and Polygon ( MATIC ). Gijs Koning, co-head of VanEck Europe, elaborated on why it was important for the firm to facilitate investment in digital currencies: "In early 2017, we determined that digital assets could provide a store of value alternative to currencies and gold, as well as a host of technology solutions that could bring down costs in the payments and investing industries." While VanEck's cryptocurrency financial products are gaining tract

The Treasury will consider imposing KYC regulations on transactions involving self-custodied wallets. As the Department of the Treasury has announced its regulatory agenda for the fiscal year on Jan. 31, many in the Web3 space have likely experienced flashbacks to December 2020, when the agency had first proposed to impose Know Your Customer, or KYC, rules on transactions that involved self-custodied crypto wallets. The Treasury’s semiannual agenda and regulatory plan , a document that is meant to inform the public of the department’s ongoing rulemaking activities and encourages public feedback, features a clause entitled “Requirements for certain transactions involving convertible virtual currency or digital assets.” Ascribed to the Treasury’s Financial Crimes Enforcement Network, or FinCEN, it proposes to require banks and money service businesses to “submit reports, keep records and verify the identity of customers” in relation to transactions with funds held in unhosted wallet

BTC and altcoins are attempting to end January on a positive note by overcoming overhead resistance levels as Bitcoin aims to flip $40,000 back to support. Bitcoin ( BTC ) started 2022 on a losing note, dropping about 20% to  its worst performance in January since 2018 when the price plunged 26.61%, according to on-chain analytics resource Coinglass. Now, all eyes turn to February, which has historically favored the bulls. The only two negative closes in February were in 2020 and 2014. One positive sign during the recent price decline has been that the long-term hodlers have not panicked . Glassnode data shows that the number of coins that last moved between five and seven years ago surged to a new all-time high. Daily cryptocurrency market performance. Source: Coin360 El Salvador's President Nayib Bukele projected a “ gigantic price increase ” for Bitcoin. Bukele’s prediction is based on the fact that if the millionaires of the world, who are more than 50 million in numb

The decentralized finance (DeFi) market opens up plenty of opportunities for earning, as well as cutting costs on loans and reducing transactional costs. At the same time, many users face issues upon attempting to transfer to new instruments. For example, very often entering into DeFi platforms is accessible only to tech-savvy people. This and many other problems of the decentralized finance field were solved by BaksDAO developers. Let’s dive deeper into its features and growth opportunities. What is BaksDAO BaksDAO is a multifunctional decentralized finance (DeFi) platform that among other things, allows users to get loans against crypto assets. Also, BaksDAO provides users with instruments to get passive income through providing assets for lending. The key mission of the project is to simplify the entrance into the DeFi market. To newbies, the decentralized finance market can appear complicated. Lack of drive for new technologies results in missed opportunities. For example, the De

Bitcoin has been trading around its current levels for several days, leading to an apparent shift in sentiment across the crypto market. As BTC’s price trend to the upside after the U.S. Federal Reserve FOMC meeting, there seems to be an increase in optimistic on the crypto market. Related Reading | TA: Bitcoin Faces Hurdle, Why BTC Could Resume Downtrend In the short term, our Editorial Director Tony Spilotro has identified a TD Sequential buy signal on the 12-hour chart. As seen below, he highlighted a 13-buy setup with a trend to the downside which has been identified for some market participants as a bear flag. Source: TonyTrades BTC via Telegram On this timeframe, larger investors could be “baiting” retail into trading the bear flag. However, the TD Sequential suggest these investors could be entering a trap, as it suggests a short squeeze which could play out as soon as today’s daily close, according to Tony’s analysis. Data from IntoTheBlock records major resistance level fo

The DeFi debacle has caused ripples across the ecosystem as the project head looks to wind things up. The co-founder of the embattled Wonderland decentralized finance project is preparing to pull the plug following a deeply divided community vote. On Jan. 30, Wonderland co-founder Daniele Sestagalli tweeted that the Avalanche-based reserve currency experiment is coming to an end. He added that the divided community “means that we failed.” The vote to save or wind down the project came after Sestagalli asked former partner and Wonderland treasury head Michael Patryn (who goes by the pseudonym ‘0xSifu’) to step down late last week. Patryn, who has changed his name on a number of occasions, was sensationally revealed on Jan. 27 to be the co-founder of the defunct Canadian crypto exchange QuadrigaCX. He has also been previously convicted of credit card fraud and pleaded guilty to several related offenses in the early 2000s. 1/ Wonderland experiment is coming to an end. It is cle

Bitcoin struggled to clear the $38,800 resistance zone against the US Dollar. BTC is moving lower and might decline below the $35,000 support level. Bitcoin started an upside correction but failed to clear the $38,800 resistance zone. The price is now trading below $37,500 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $37,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if it stays below the $38,000 resistance zone. Bitcoin Price Starts Fresh Decrease Bitcoin price recovered above the $37,000 resistance zone. BTC even climbed above the $38,000 resistance zone and the 100 hourly simple moving average. However, the price failed to clear the $38,800 resistance zone. A high was formed near $38,719 and the price started a fresh decline. There was a move below the $38,000 support level. The bears pushed the price below the 50% Fib retracement level of the upward mov

The slated integrations with Bitcoin and Ethereum would displace the need to use a bridge, which can open the network up to malicious actors. The Internet Computer has released a roadmap for 2022 and beyond, indicating plans to roll out integrations with Bitcoin and Ethereum by the end of the year. The Internet Computer is a public blockchain and protocol that allows developers to install smart contracts and decentralized applications (DApps) directly on the blockchain. It was incubated and launched in May 2021 after years of development by Dfinity — a nonprofit based in Zurich. The #ICP #BTC integration will prompt a new wave of DeFi applications built to leverage the world’s largest cryptocurrency. Full story: https://t.co/kexreQTw20 pic.twitter.com/bQkKdel7r5 — DFINITY Foundation (@dfinity) January 27, 2022 The direct Bitcoin integration will be launched as part of Dfinity’s “Chromium Satoshi Release,” which is planned for Q1 2022. It will add smart contracts to the Bi

MULTI, SYN and CELR saw a substantial boost in price as the crypto ecosystem focused on integrating cross-chain interoperability as a new fundamental component in DeFi. Interoperability is shaping up to be one of the main themes for the cryptocurrency market in 2022 as projects across the ecosystem unveil integrations that make their networks Ethereum ( ETH ) Virtual Machine (EVM) compatible. While this has been one of the long-term goals of the ecosystem as a step on the path to an interconnected network of protocols, it has also created a new decentralized finance (DeFi) market for multi-chain bridges and decentralized finance. Here are three of the top volume cross-chain bridges that the cryptocurrency community uses to transfer assets between blockchain networks. Multichain Multichain (MULTI), formerly known as Anyswap , is a cross-chain router protocol that aims to become the go-to router for the emerging Web3 ecosystem. According to data from Defi Llama, Multichain is the

It’s been a challenging few months for crypto investors since Bitcoin fell from its all time high of 69k; on top of that, many coins have followed in BTC’s price action footsteps. The entire crypto market has shed more than $1 trillion in value since, and many experts believe more is to come and that this will not be the last of the wave; many people scramble to get a grasp onfwhat’s to come and if we will fall into another dreaded crypto winter. Related Reading | Downward DOGE: Descending Dogecoin Pattern Predicts Deadly Drop Cold World For Crypto… The entire crypto market has lost roughly $1 trillion in value since November, around the time of bitcoin’s all-time high, and other tokens such as ether and solana followed the number one digital currency to trade sharply lower. Ethereum has more than halved in value since reaching its peak in November, while Solana has suffered an even steeper decline, falling 65 percent. Back in 2018, bitcoin went through what many now refer to as ‘cr

LooksRare aims to be an alternative to OpenSea, but the amount of wash trading on the platform raises questions on whether users really view it as a viable competitor. LooksRare made its debut on Jan.10 and the recently launched NFT marketplace has drawn a lot of attention, not only because its daily trade volumes were more than double Opensea’s on the second day of trading, but also because it has become the new playground for wash traders. Wash trading is a series of trading activities involving the same trader buying and selling the same instrument simultaneously, creating artificially high trading volume and a manipulated market price for the asset in play. In the United States, wash trading in traditional financial markets has been illegal since 1936 and the most recent highly publicized scandal related to wash trading is the manipulation of LIBOR in 2012. While wash trading has been highly regulated and closely monitored by exchanges and regulators, it seems to have found it

ADAX v1 is now live on Cardano. It now forms part of the network’s burgeoning DeFi ecosystem less than five months after the activation of smart contracting in late September 2021. ADAX Launches an Order Book DEX on Cardano Details on January 30 reveal that ADAX is a “core piece of infrastructure that’s critical to the long-term prosperity of the Cardano ecosystem.” The ramp introduces new features that stand out from other live and upcoming DEXes. ADAX is a custodial and order-book-based decentralized exchange designed to fit into Cardano’s unique architecture. The DEX incorporates smart contracts built using Plutus for decentralization and to ensure instant and smooth transactions for all users. The DEX’s codes are secure, deriving its security from the developing team’s expertise and the decentralization of Cardano. The network is the most decentralized Proof-of-Stake consensus algorithm blockchain comprising over 3.3k staking pools. This follows the activation of the Shelley Pha

RSI is on route to repeating a trend break, which sparked "massive" BTC price moves twice in the last year, one analyst notes. Bitcoin ( BTC ) circled the $38,000 mark into Jan. 30 as a "trappy" weekend still offered the chance of a solid weekly close. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView "Choppy waters" for Bitcoin Data from Cointelegraph Markets Pro and TradingView  showed BTC/USD regaining the $38,000 mark after seeing local highs of $38,740 on Bitstamp the previous day. Despite its strong "out of hours" performance, few analysts believed in BTC as a firm bullish play without traditional market guidance. "Still choppy waters for Bitcoin," Cointelegraph contributor Michaël van de Poppe summarized in his latest Twitter update. "Looking at $37K to see whether that sustains. If not -> I'm assuming we'll test lows for daily bullish divergence to create. If we hold, we might see a breaker