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LINK token continues to strengthen as professional traders and enterprise solution clients enter Chainlink’s ecosystem. Chainlink's (LINK) token has experienced a remarkable 26% surge between Nov. 2 and Nov. 8, approaching $14, a level not seen since April 2022. This solidified its position as the 10th largest cryptocurrency (excluding stablecoins) by market capitalization. While the price action is a welcome sight for traders, is Chainlink's current valuation of $8.1 billion justified? Cointelegraph research shows that the impressive price surge is driven by expectations of real-world asset (RWA) tokenization and initial signs of institutional adoption. However, let's delve deeper to assess the sustainability of the current rally. Spot Bitcoin ETF expectations and real world asset tokenization boost sentiment Bloomberg's ETF strategists, James Seyffart and Eric Balhunas, issued a research note on Nov. 8, which has boosted the confidence of cryptocurrency traders. New ...

80% of Bitcoin addresses are "in the black" at $34,000, while BTC price still trades 50% below its own all-time highs. Bitcoin (BTC) has more wallet addresses in profit than ever before despite BTC price being 50% below all-time highs. The latest data from on-chain analytics firm Glassnode shows a record number of addresses “in the black.” $34,000 BTC price returns over 80% of Bitcoin addresses to profit Bitcoin may be nearing 18-month highs, but its recent gains were already enough to spark significant changes in investor profitability. Per Glassnode data, the number of addresses in profit as of Oct. 30 was 39.1 million. This the highest number ever recorded for Bitcoin, and beats the previous peak of 38.1 million seen in November 2021. At that time, BTC/USD itself traded at all-time highs, and thus 100% of addresses in existence with a non-zero balance were in profit . While current spot price remains 50% lower than those levels, total non-zero addresses now number 48.3...

A surge in CME BTC volumes and open interest highlight institutional investors' growing interest in Bitcoin. Will it be enough to keep the price in the current range? Bitcoin (BTC) price currently battles to hold the $34,000 level after a stellar rally and short squeeze saw its price push above $35,000 on Oct. 23. In an Oct. 24 market update, Capriole Investments founder Charles Edwards noted that after 7 months of consolidation, Bitcoin’s upward move melted the $32,000 resistance “like butter” and he expects that the upcoming monthly resistance is unlikely to be a hurdle. Edwards said: “It would make sense to see either a rapid continuation to mid-range ($43K) or short-term consolidation between support resistance at $32-$35K before continuation.” As Cointelegraph mentioned in an earlier price update, “Successive daily closes above the $31,700 level would be notable, as daily or weekly higher high candles above this level puts the price above a key pivot point and enters territor...

According to an analysis from Moody's Investors Service, AI and distributed ledger technologies are set to disrupt companies, industries, and economies across the globe. Artificial intelligence (AI) and blockchain technologies have reached a "tipping point" and are set to shrink established industries while creating new ones, forecasts a report from Moody's Investors Service published on Sep. 6.  According to the authors, the combined impact of AI and distributed ledger technologies (DLTs), such as blockchain , has effects "far beyond corporate balance sheets," and "will likely reshape entire sector s, leading established industries "to shrink or disappear altogether while creating new market s from scratch ." The report notes: "History has shown that transformative technologies can shrink established sectors shrink or wipe them out entirely [...] AI will drive the emergence of new sectors, possibly in content generation, mobility, edu...

Bitcoin and most altcoins gave back the entirety of their gains shortly after the SEC decided to delay issuing a decision on all of the recently filed spot Bitcoin ETF applications. Bitcoin’s (BTC) volatility has increased over the past few days. The price soared on Aug. 29 after Grayscale scored a victory over the United States Securities and Exchange Commission (SEC). However, the euphoria was short-lived as the price gave back all the recent gains on the news that the SEC delayed the decision on all seven spot Bitcoin exchange-traded fund applications.  News related to Bitcoin ETFs has been the major trigger for the markets in the past few days. Bloomberg ETF analysts remain upbeat over the possibility of the ETFs being approved by the regulator in 2023. In an Aug. 30 post of X (formerly Twitter), Bloomberg senior ETF analyst Eric Balchunas bumped up the approval possibility of a spot Bitcoin ETF from 65% to 75%. Daily cryptocurrency market performance. Source: Coin360 In the near ...

BTC price strength fails to sustain $29,000 support as the week begins with fresh weakness for Bitcoin. Bitcoin (BTC) fell below $28,700 after the Aug. 7 Wall Street open as “ endless spot selling ” drove BTC price action lower. BTC/USD 1-hour chart. Source: TradingView Bitcoin traders brace for losses as $29,000 support breaks Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning nearer to its August lows after a shaky weekly close. The start of United States trading offered no signs of relief for bulls after a weekend of sideways behavior, with traders and analysts already predicting a downward outcome once the impasse broke. Commenting on the situation, popular trader Daan Crypto Trades noted that derivatives trading at a premium over spot placed bulls in an even less advantageous position. “There being a Perpetual pair premium vs Spot is really never a good sign. Combined with the endless spot selling + choppy price action is not what you want to see. B...

Going against Bitcoin is a tough pill to swallow for investors in one of the oldest altcoins. Bitcoin (BTC) is still almost a year away from its next block reward halving , but Litecoin (LTC) miners are already bracing for impact. In less than two weeks, Litecoin’s block subsidy will drop from 12.5 LTC to 6.25 LTC per block. Whales stock up on LTC — but BTC value stays weak Despite its fair share of controversy, Litecoin remains the 12th largest cryptocurrency by market cap at around $6.8 billion. Its miners currently rake in 7,200 LTC in block rewards daily, equal to a U.S. dollar value of around $670,000. As the halving nears, major investors appear to be seeking an easy trade, popular trader Mikybull Crypto and others noting “whales” buying up almost $60 million worth of LTC in the past two days. #Litecoin whales have bought over 590,000 #LTC in the last 48 hours, worth around $59 million! Halving is a few days ahead. pic.twitter.com/L77RB5lLIq — Mikybull Crypto (@MikybullCry...

BTC price could be in line for a dip of around $2,000 after days of straight upside, with Bitcoin buyers lying in wait. Bitcoin (BTC) lingered near $30,000 on June 22 as traders sought opportunities to “buy the dip.” BTC/USD 1-hour chart. Source: TradingView Bitcoin dip-buyers "ready" for $28,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD volatility calming overnight after rapid gains . BTC price performance had wowed the day prior, the largest cryptocurrency returning to the $30,000 mark for the first time since mid-April. Now, hopes were increasing over a modest correction next, enabling lucrative entry points for further long positions. #BTC Not shorting, waiting for an entry lower. pic.twitter.com/WgIibKQAs9 — Ed_NL (@Crypto_Ed_NL) June 22, 2023 “Bitcoin looking at this scenario,” Michaël van de Poppe, founder and CEO of trading firm Eight, told Twitter followers. “I think, $28.500 is a great spot for longing, the lower the better, but I think ...

Bitcoin dominance is rising, but so is Ethereum’s share of market dominance among its altcoin competitors. Cointelegraph explains why. Ethereum has been the dominant smart contract and decentralized application (Dapp) network since its inception. An analysis based on Ether’s price (ETH), and its market capitalization, shows indisputable evidence that the blockchain has been gaining market share over time.  Ether market capitalization dominance (%). Source: TradingView As shown above, Ether’s dominance in market capitalization terms grew over the past couple of years, from an 18% average in July 2021 to the current 20%. Excluding Bitcoin (BTC) from the Analysis , Ether’s market share presently stands at 40.6%, while the next competitor, BNB, holds a 7.2% share. This shows the disparity from the leading Dapp-focused network to the incumbents, which is also evident when analyzing the total value locked (TVL) on each network’s smart contracts. Ethereum is the absolute leader with $24.6...

The total crypto market cap has been ranging sideways, but Bitcoin derivatives markets indicate pro traders don't expect any major price corrections. For the past 14 days, cryptocurrency markets have been trading within an unusually tight 7.1% range. In other words, investors are unwilling to place new bets until there’s additional regulatory clarity, especially in the United States. The total crypto market capitalization fell by 1% to $1.2 trillion over the seven days ending May 4, primarily as a result of Bitcoin's (BTC) 1.1% price decline, Ether's (BTC) 0.2% loss, and BNB trading down 1.4%. Total crypto market cap in USD, 12-hour. Source: TradingView Notice that the exact same $1.16 trillion to $1.22 trillion total market cap range previously stood for twelve days between March 29 and April 10. The conflicting forces: regulatory uncertainty weighing it down and the banking crisis pushing prices upward are likely the reason for the lack of risk-appetite on both sides. SE...

Tesla's remaining Bitcoin stash has grown 100% from its November 2022 lows, demonstrating that hodling BTC can indeed pay off. The price of Bitcoin (BTC) has grown by more than 50% since Tesla unveiled its approximately $1 billion BTC sales in July 2022. Are Tesla's Bitcoin trades profitable?  Tesla infamously dumped nearly $936 million of its total Bitcoin holdings in Q2/2022, accounting for 75% of its remaining reserves, to secure a $64 million profit. At the time, Bitcoin was trading about 70% lower than its record high of $69,000 in November 2021. BTC/USD monthly price chart featuring Tesla's Bitcoin sales purchases and sales. Source: TradingView Originally, Tesla purchased $1.50 billion worth of Bitcoin in February 2021 at an average price of $36,000. The company then sold BTC worth $272 million to boost its Q1/2021 accounting by $101 million. The company has nevertheless held on to its remaining BTC as of Q4 2022 despite the price of Bitcoin sitting at bear-market l...

Bitcoin’s price might have held near $28,000, but the absence of shorts using margin and futures markers is a bullish indicator. Despite regulatory pressure and worsening macroeconomic conditions, Bitcoin (BTC) demonstrated bullishness, holding near $28,000 for the past week. Furthermore, professional traders have maintained leveraged long positions on margin and in futures markets, indicating strength. On the regulatory front, on April 4, the Texas Senate Committee on Business and Commerce agreed to move forward and remove incentives for miners operating within the state’s regulatory environment. If passed, Senate Bill 1751 would cap compensation for load reductions on Texas’ power grid during emergencies. Risk of recession grows against rate hikes  The risk of a recession in the United States grew after applications for unemployment benefits in the week ending March 25 were revised to 246,000, up 48,000 from the initial report. Furthermore, Kristalina Georgieva, managing director of...

The entertainment industry needs to evolve barriers between creators and the community, and this studio is offering it. The entertainment industry is known for its daunting barriers to entry, with a tiny group of studios and networks dominating the greenlighting process for content. Even when a project does launch, the actual talent involved in its creation rarely gets to claim any ownership of its success. As for the audience, fans have few ways to participate other than consuming content and buying merchandise. All in all, centralized platforms of the Web2 era failed to offer creator s truly direct ways to connect with their target audience. Despite taking the lion’s share of a $100 billion creator industry, leading content creation platforms are often criticized for unfavorable monetization and ownership models for creator s. As a result, many talented creatives are ultimately employees of their own creations. With a user-centric approach that gives power back to the people who u...

Bitcoin has risen above $25,000 and if bulls flip this level into support during the next pullback, it will signal the start of a new up-move to $32,000. After a recovery on March 16, the United States equities markets are again down on March 17. Investors remain concerned about the vulnerability of the banks in the U.S. and Europe. A silver lining for cryptocurrency investors is that Bitcoin (BTC) has remained decoupled with the equities markets and has risen to its highest level since Jan. 12. Galaxy Digital founder and CEO Michael Novogratz said in an interview with CNBC that the US and the globe will face a credit crunch as banks lend less to rebuild capital. He said investors should be long on Bitcoin and crypto because these are the times for which it was created. Daily cryptocurrency market performance. Source: Coin360 Quantitative tightening seems to be giving way to a period of quantitative easing. The banks have already borrowed $150 billion from the Federal Reserve, which i...