What happened  The news in the crypto market continued to get worse after Tuesday’s de-peg of TerraUSD (UST -6.08%) from the U.S. dollar, as well as the drop in Bitcoin (BTC -7.11%). This has effectively caused a cascade of selling and has led to outright panic in some circles. And even the most useful crypto assets are down big Wednesday.  At noon ET, the value of Ethereum (ETH -11.20%) had fallen 3.6% in the prior 24 hours, Solana (SOL -28.58%) had dropped 19.9%, and… Source link

Bitcoin (BTC) price initially bounced from its recent low at $29,000 but the overall market sentiment after a 25% price drop in five days is still largely negative. Currently, the crypto “Fear and Greed Index,” which uses volatility, volume, social metrics, Bitcoin dominance and Google trends data, has plunged to its lowest level since March 2020 and at the moment, there appears to be little protecting the market against further downside. Crypto “Fear and Greed index”. Source:… Source link

The cryptocurrency brokerage reported a first-quarter loss late Tuesday and revenue that fell 27% from a year ago, missing Wall Street’s forecasts. Coinbase shares plummeted more than 25% Wednesday and hit their lowest level ever. Coinbase stock is now down more than 75% this year and is trading nearly 85% below its all-time high price from November. Shares have lost more than half their value in just the past week alone. The plunge in Coinbase’s stock coincides with the massive drop in the… Source link

Following a 6-week long up-channel (white), Monero (XMR) predictably pivoted from its $283-ceiling. The past few weeks have now accounted for two bear runs, with renewed selling pressure pulling the alt to its February lows as of 10 May. In gearing up its efforts to impede the bearish pull, buyers have negated the consistent streak of red candles on the 4-hour timeframe. Should the current candlestick close as green above the $161-mark, XMR could aim to challenge its current pattern. At… Source link

Litecoin price undergoes a sharp drop from $95 to $75, losing 20% value. LTC price is at risk of losing 70% as the last line of defence is 10$ away from current lows. Expect a perfect storm brewing where both dollar strength and risk-off see a falling knife triggered, with LTC price devaluing $50. Litecoin (LTC) price is trading in the danger zone as price action hangs by a thread at risk of dropping to new lows for the week. LTC price could drop further to $65.08,… Source link

© Reuters Litecoin Falls 11% In Rout Investing.com – was trading at $75.100 by 08:43 (12:43 GMT) on the Investing.com Index on Wednesday, down 10.81% on the day. It was the largest one-day percentage loss since May 9. The move downwards pushed Litecoin’s market cap down to $5.464B, or 0.40% of the total cryptocurrency market cap. At its highest, Litecoin’s market cap was $25.609B. Litecoin had traded in a range of $75.100 to $82.700 in the previous twenty-four hours. Over the past… Source link

The president of El Salvador, Nayib Bukele, presented on Tuesday the first images of Bitcoin City, which will be constructed near the Conchagua volcano on the Gulf of Fonseca in the south-east of the Central American country. The project, which was announced in November 2021, seeks to create a smart city fully based on the use of bitcoin as a cryptocurrency. Bukele shared on Twitter illustrations and scale models of the metropolis, but he did not clarify when construction will begin. More… Source link

Litecoin suffered a major blow to its price action in the last five days courtesy of a massive FUD-induced sell-off. It dropped as low as $74 for the first time since December 2020, but the dip provided a nice discount for those looking to ride the recovery wave. If you are among those who purchased Litecoin near the low of 9 May, you might also be looking to cash out at a healthy level before additional downside. However, we will have to evaluate Litecoin’s price action in order to… Source link

Like the network itself, Hive tests are constantly evolving. Most recently, testing teams have added the ability for Hive tests to mock the new proof-of-stake Ethereum Consensus Layer (CL) behavior. This new integration will allow it to run a simulator for the transition from PoW to PoS and see how both the CL and EL will behave. Source link

Text size Bitcoin prices have suffered a rout over the past week alongside other cryptocurrencies. Dreamstime … Source link