Data analyst: Bitcoin funding rates could spell trouble for the near-term outlookBTC $11,691 (+1.1%) • ETH $419 (+8%) • XRP $0.29 (+2.6%)
It has been a turbulent week for Bitcoin. This past weekend, the cryptocurrency’s buyers attempted to catalyze a movement up towards $12,000, eventually pushing it as high as $12,200. At this point, however, it faced an influx of selling pressure that caused its price to begin sliding down towards the lower-$11,000 region. Overnight, however, buyers were able to absorb this selling pressure and stop the cryptocurrency from seeing any significant downside. Despite the strong rebound from its daily lows, one data analyst is now expressing caution when it comes to the crypto’s near-term outlook. He is noting that high funding across the market suggests bulls are still overextended, making it easier for bears to fuel a downside movement. This could also lead to a “cascade of liquidations” in the near-term. More news ⏬Crypto exchanges are rushing to list Aragon (ANT), but what is it?
Three major crypto exchanges listed Aragon’s ANT tokens yesterday, causing an immediate price bump and frantic Google searches for what the protocol does. Thanks to our premium sponsors⭐️ CryptoAltum - CryptoAltum is a leading trading platform with a special leaning towards digital assets. Its mission is to make crypto trading easy and accessible to everyone. ⭐️ Paradox Group - Paradox is the Official Advertising Partners of CryptoSlate and specialises in Marketing and Blockchain Advertising. Forget YAM, Ethereum DeFi’s hottest new craze is Based—literally
Just 24 hours after it launched, a new Ethereum decentralized finance protocol called Yam Finance has received deposits of over $400 million worth of altcoins like Wrapped Ethereum and Yearn.finance. How to stake ADA from your Cardano Yoroi wallet
Staking Cardano (ADA) from Yoroi is an easy and straightforward process, very similar to staking your funds from Daedalus. Coinbase to allow Americans to take cash loans with Bitcoin collateral
US crypto exchange Coinbase is going all out with its crypto offerings ahead of a purported bull run, listing DeFi projects, in-demand altcoins, and now a product for loans using one’s Bitcoin. CoinMarketCap launches platform to incentivize learning about cryptocurrencies
CoinMarketCap, one of the largest coin tracking websites in the industry, has launched CoinMarketCap Earn. Chainlink rallies to fresh highs of $16, but data reveals mounting selling pressure
Chainlink’s price has flashed signs of intense strength in recent weeks, with each pullback being aggressively bought by bulls. Here’s why Ethereum’s Ampleforth (AMPL) is shooting 35% higher today
After spiking parabolically into the end of July, the pseudo-stablecoin Ampleforth (AMPL) suffered a large correction. Crypto market dataFor more pertinent market data, please see: Connect with usDisclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to content within this article.
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