Cryptocurrency

Cryptovalue is a type of digital currency, creation and control of which are based on cryptographic methods. Usually, cryptocurrency accounting decentralized. The operation of these systems is based on technologies such as blockchain, directed acyclic graph, Consensus registry (ledger) etc.

Against the background of correction, institutions continue to invest in top cryptocurrencies

According to CoinShares, institutional investors are taking advantage of the opportunity to purchase top cryptocurrency assets amid market correction BTC rate decline by 12% against the background of a general market correction did not affect investor sentiment: “Last week, digital asset investment products attracted $154 million. Correction, due to which the BTC rate decreased by 12%, did not affect the positive sentiment of investors ". Despite the correction, Last week, the inflow of funds into BTC-oriented funds amounted to more than $100 million, which helped the asset retain its leadership position among investment products: “Bitcoin still accounts for a significant part of the inflow of funds. This time the indicator was $114 million, which helped the asset to maintain the share of assets under management among investment products at 67% ". Ethereum funds raised last week $14 million, which became the fourth consecutive week with a positive inflow of funds (in total during this period $80 million). Remarkably, that last week the outflow of funds from Cardano funds amounted to $2,1 million, while Solana funds boast an influx of $8,5 million. Polkadot funds are also steadily raising funds and this time they raised $5 million.

The cryptanalyst called altcoin, which is expected to grow by 800%

Cryptocurrency analyst with the nickname Credible Crypto believes a significant rally in one altcoin based on Ethereum is likely In his opinion, DeFi platform Curve's governance token CRV is destined to hit the milestone $40, What's on 800% above current levels.

Added to Coinbase, GALA Soared By 300%

The altcoin created on the basis of Ethereum and representing the gaming sphere, after adding support on the well-known cryptocurrency exchange Coinbase, showed an almost non-stop rate growth First, Coinbase listed Gala (GALA) on the trading floor for professionals, and then on a platform focused on ordinary traders.

Against the backdrop of a rollback of the cryptocurrency market, stablecoins worth more than $1,2 billion

According to analytical company Santiment, against the backdrop of the recent correction and consolidation in the crypto market, decent amounts of stablecoins entered the cryptocurrency exchanges. According to Santiment, 18 November record volumes of stablecoins entered cryptocurrency exchanges in the form of Tether (USDT) и USD Coin (USDC): “The largest hourly inflow of Tether to exchanges for the entire year occurred on Thursday. IN 8:00 UTC was transferred to exchanges for more than $771,6 million in USDT, and after all 6 hours $454 million in USDC, which is the 4-month maximum for the asset "After the correction of the BTC rate with $69 000 to less $56 000 the asset is discussed on the Internet much less actively, than in June: “With the altcoin boom, for most of 2021 years and even in conditions of strong volatility, now BTC is discussed about half as much, how 5 months ago. Now only 15% discussions on crypto platforms related to BTC vs. 30% in mid-June "Santiment noted, that one altcoin is going against the trend of the broader market. Metaverse-focused asset Sandbox (SAND) within a week grew by almost 50%: “SAND is trading higher now $4 and the asset went against the correction, affecting almost all other altcoins. SAND's realized profit / loss is starting to find a balance, which has historically been an extremely accurate indicative indicator "

Cryptotrader believes, that against the background of the bitcoin correction there is no reason to panic

Cryptocurrency trader Lark Davis believes, that the current correction of bitcoin does not give any reason for panic According to him, the current rollback of the bitcoin rate is relatively small, even though, that the entire increase in the BTC rate was lost this month: "So far, the bitcoin rate is only decreasing., but at the peak of the pullback, BTC was only 11,5% below the recent all-time high. Taking October as an example, then between the peak and the bottom of the bitcoin rate was 14%. The average BTC correction rate during a bull run is just over 20%. ”Davis emphasized, that in September the BTC rate fell by 25% – from the level $53 000 to $39 600, and the current corrective movement from the historical high can also lower BTC to $53 000. Based on data from the analytical company Glassnode, the trader used the UPRD metric and highlighted the level $53 000 as an important support: "The number of people moved for the last time after Bitcoin reached capitalization is higher $1 trillion coins is now 3,45 million BTC. I.e, 18,3% sentences moved at a rate higher $53 000, что свидетельствует о притоке капитала Большие объемы BTC перемещались при курсе более $53 000, which indicates bullish sentiment among many investors. I believe, that the zone is in the middle of the range $50 000 – $60 000 является ключевой областью курсовой поддержки …

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Cryptanalyst called 3 potentially very profitable cryptocurrencies

Cryptocurrency analyst Nicholas Merten noted 3 cryptocurrencies, which can show rapid growth during the season of altcoins Cryptanalyst called 3 potentially very profitable cryptocurrencies He is closely watching the sector, which has the most significant potential and, according to Merten, promising first-layer protocols – the best choice for investors in this market. First on the list is the e-Radix Layer 1 protocol (EXRD), created specifically for the DeFi sector. Asset paired against BTC demonstrates exceptional dynamics: “Downward Wedge Breakout in Pair Against BTC, trading volumes increased and the rate began to rise. Each time a rollback, support was found at the previous resistance level. " 30 days EXRD rate grew by almost 500% and almost reached $0,5. Next comes the blockchain with support for smart contracts, by decentralized voting and self-funded Energi treasury (NRG). According to the analyst, the asset is ready for a breakout after a long hibernation: “Due to a significant number of fundamental factors, Energi is well positioned to rally and may even start its first major bull rally. I like assets, которые долгое время находились на заднем плане» В течение недели курс NRG вырос 29% and is near $2,28. And at the bottom of the list is the IOTA open source distributed ledger (SINCE WHEN). Merten thinks, that MIOTA is in a period of long-term accumulation and is ready for a breakout. In a week …

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Analyst outlines the future of bitcoin in light of the current correction

Cryptocurrency analyst Justin Bennett spoke about his vision of the recovery of bitcoin and the entire cryptocurrency market after a sudden correction, reduced its capitalization by almost $400 billions According to CoinGlass, positions worth more than one day were liquidated per day $882 million. Bitcoin has corrected by about 10%, and the rest of the market went down with it.. According to the analyst, if bitcoin does not hold the level $60 000, then it can expect a further decline to $55 000: "Apparently, candlestick & quot; bearish blockage" for BTC was a signal. Bitcoin has a lot of support around $60 000. If BTC can't come back higher $63 300, expect a decline to the level $55 000» Bennett emphasized, that cryptocurrency rates regularly fall by 20-30%, and BTC only on 12% below its maximum. To assess the state of the cryptocurrency market, Bennett monitors the US dollar index (DXY). Weak US dollar indicates higher prices for many assets, and a strong dollar signals a correction in the markets. According to him, DXY is moving in a large upward channel and is now at the resistance level, which can reverse motion: «DXY протестировал уровень сопротивления 95,8» Ранее Беннетт называл ослабление доллара в качестве потенциального катализатора, which can cause a sharp increase in bitcoin. He considers, that BTC will end the bullish cycle well above the level $200 000, …

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On the first day of operation, the Bitcoin ETF from VanEck attracted only $9,6 million

Фьючерсный VanEck Bitcoin Strategy ETF (XBTF) started working in the conditions of market correction and this did not have a very favorable effect on its results On the first day of trading, XBTF was sold 38 398 shares and the final price was $59,73 per share. According to VanEck, at the close of trading, the ETF had assets under management in the amount of $9,6 million. VanEck's application for a spot Bitcoin ETF was rejected on Friday, and Kyle DaCruz, the company's director of digital asset products, was disappointed with the decision.: “We were disappointed with the Bitcoin spot ETF decision and still consider it the best product.. but, despite this decision, it is important for us to bring a regulated bitcoin exchange-traded fund to the market. ", VanEck intends to continue work on bringing the spot product to the market, but doesn't know yet, when can it happen. VanEck's Bitcoin ETF currently has two competitors. Proshares Bitcoin Strategy ETF First Futures Product (BITO) attracted record-breaking $1,1 billion and since then has been stable at the level $1,05 billion. Launched three days later Valkyrie Bitcoin Strategy ETF (BTF) has under management about $50 million. VanEck ETFs have two advantages over their competitors: lower commissions (0,65 basis points versus 0,95 in …

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The inflow of funds into cryptocurrency funds decreased for the 4th week in a row

According to CoinShares report, last week, investment products based on digital assets attracted $151 million. Although the results are lower than previous weeks, but the level remains quite high and the main tone is set by BTC funds As reported, total inflow of funds to cryptocurrency funds decreased for the fourth week in a row.

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