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MKR looks primed to continue the rally given its recent buyback mechanism and two other key metrics that impact Maker’s price.
Bitcoin price is down today as investors expect the Federal Reserve to raise rates and crypto whales send record amounts of BTC to exchanges.
The latest price moves in crypto markets in context for July 24, 2023.
Bitcoin is at the pivotal 50-day SMA support, and a drop below this level could result in accelerated selling of BTC and altcoins.
One analyst pointed out the $27,000 level could be a short-term target for bitcoin amid the lack of positive news.
The balance kept in addresses that hold coins for at least 155 days has increased by $1.87 billion this month.
XRP price is down today, like other top crypto assets, as traders anticipate a Federal Reserve rate hike this week.
One token zoomed 1,200% even though its related project closed in May, data shows.
Bitcoin whales account for the most exchange inflows volumewise since June 2022 as short-term holders become increasingly active.
The highly anticipated project co-founded by OpenAI's Sam Altman launched its token on Monday.
- 01:34Cardano Founder Reveals Details of the "Glacier Drop" Airdrop Plan for Privacy Sidechain MidnightCardano founder Charles Hoskinson announced details of the "Glacier Drop" airdrop plan for the privacy sidechain Midnight at the Consensus 2025 conference. The plan will distribute governance tokens NIGHT and privacy tokens DUST to 37 million users across 8 major public chains, explicitly excluding venture capital shares, with all tokens directly aimed at regular users. Hoskinson also proposed a "collaborative economics" model, allowing developers to use native tokens like ETH and SOL to pay for cross-chain application fees, and validators can also collaborate across chains to earn revenue. The Midnight testnet is already live, with the mainnet expected to launch by the end of 2025. This airdrop is seen as a strategic move to alleviate industry fragmentation and address the entry of tech giants.
- 01:33Opinion: Bitcoin Technical Indicators Are Overbought, Potential for Short-Term PullbackAccording to analyst @ali_charts, Bitcoin may experience a brief pullback, as the RSI currently indicates an overbought condition.
- 01:02Hedge Fund Tycoon Steve Cohen: Probability of U.S. Economic Recession is About 45%Billionaire investor and founder of the hedge fund Point72 Asset Management (known as "Wall Street's most insane money-making machine"), Steve Cohen, stated at the Sohn Investment Conference in New York on Wednesday: "We are not yet in a recession, but economic growth has significantly slowed." The 68-year-old Cohen said he does not believe the Federal Reserve will cut interest rates immediately because "they will be concerned about inflation brought on by tariffs." He expects U.S. economic growth to slow to 1.5% or lower next year, "a level that is acceptable but not impressive." He mentioned that the stock market's plunge and rebound in April appeared unusual in terms of reversal speed and emphasized that he is closely monitoring the market's reaction after the next round of U.S. economic data is released. Even if the market does decline, he expects the drop to be between 10% and 15%, "which is not catastrophic." He also added that the U.S. stock market might maintain a sideways fluctuation for some time.