Local top? Why Bitcoin traders are starting to get slightly cautiousBTC $27,164 (+0.9%) • ETH $739 (+7.2%) • XRP $0.29 (-1.8%)
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The Bitcoin price has seen a relatively large pullback since December 27, after it hit a peak at $28,422. Following a 6.5% drop, technical analysts and traders are becoming slightly cautious in the short-term. The Bitcoin rally to over $28,000 occurred during the weekend when institutions are not trading. Institutional investors, typically in the U.S. trade BTC through Grayscale and the CME Bitcoin futures exchanges. Hence, during weekends, retail investors and the derivatives market dominate BTC’s volume. It was evident that the futures volume was the primary driver of Bitcoin’s uptrend in the last few days due to the discrepancy in the spot price and the futures price. In crypto, the spot market means exchanges with no leverage where traders do not borrow capital to trade. Ad 📈 Earn 8% APY on Bitcoin & 9 more crypto assets and 12% on Fiat & Stablecoins. Compounding interest, paid out daily. Trending … 🚜 DeFi Tokens • 🔮 Oracle Tokens • 📈 Biggest Gainers • 💵 Stablecoins Featured videoPolkadot vs. Kusama, why the two “cousin” blockchains are here to stay
Polkadot emerged as one of the biggest “Ethereum killers” this year, with its high throughput, low-fee network, and the demand for such features booming as the DeFi sector surged in 2020. It is maintained by five individual teams. More news ⏬This Vietnamese blockchain startup is about to launch its interoperable mainnetVietnamese blockchain startup KardiaChain launches its mainnet tomorrow as it promises of delivering the first fully interoperable and non-invasive blockchain platform. 2017-era altcoins Zilliqa (ZIL) and VeChain (VET) rocket higher amid Bitcoin boomAs has become the norm over recent months, Bitcoin has become all the rage as it has shot higher. These are the crypto companies that could go public in 2021The crypto industry is finally going mainstream on Wall Street. Litecoin (LTC) continues to surge with another intraday rally—but why?The Litecoin price surged 6% again in the past 24 hours, after a week-long rally. Why XRP dropped 24% in 2 hours after a massive relief rallyThe XRP price has declined by 24% in the past hour on Binance after Bitstamp released its statement. SushiSwap’s SUSHI rapidly drops 50% from $2.30 to $1.10 amid crypto crashAs some crypto traders on Twitter put it, SushiSwap’s native SUSHI coin just experienced its own March 13. Bitcoin dominance back to 2019 levels as institutions fill their bagsThe world’s pioneer cryptocurrency has bounced back to glory after the DeFi summer stole much of the limelight. This Ethereum-based stablecoin is up 122% in the past 24 hoursYes, you read that right: an Ethereum-based stablecoin meant to trade around one United States dollar is up approximately 100 percent in the past 24 hours alone. Ripple “partner” MoneyGram now says it never used XRP or RippleNetThe punches keep on coming for Ripple, days after the SEC launched a defining lawsuit against the company and its founders for having sold “unlicensed” securities in the US. Control your wealthAd: A trusted and accessible wealth management ecosystem powered by blockchain technology, SwissBorg puts your wealth back in your hands. 🗞 Got a story tip? Email tips@cryptoslate.com 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 the content within this article.
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