Cryptocurrencies have rallied following the announcement of a 75 basis point hike by the U.S. Federal Reserve. With inflation in the U.S. soaring past 8.6% in May 2022, the Fed made the the most aggressive rate hike in 28 years yesterday. Bitcoin (BTC), the largest cryptocurrency by market cap, is up 5.7% over the past 24 hours and is currently hovering around $21,400, according to data from CoinMarketCap. Ethereum (ETH), the second-largest cryptocurrency, has gained 10.9% in the last 24… Source link

One issue the crypto world has faced for a while is that it isn’t that welcoming to newcomers. While thousands of new crypto fans have been created in the last few years, these have still normally been tech-savvy investors, or those who at least have some inclination to get involved in rapidly emerging tech. While you might see news stories about Bitcoin on mainstream outlets, crypto investing still isn’t mainstream. Especially for a range of altcoins. If the true benefits of digital… Source link

The global crypto market cap has dropped by $369 billion in the past week. Ethereum [ETH], as it stands, took the biggest hit during the past week among the top 10 cryptocurrencies. But the question is- What conspired against ETH as it plunged to new lows on 15 June? Welcome to the carnage For most cryptocurrencies, the bear market has signaled a period to adopt stop-gap measures and “wait and watch”. However, some major cryptos have been hit hard during these bearish… Source link

Litecoin Climbs 10% In Rally Investing.com – was trading at $50.510 by 22:02 (02:02 GMT) on the Investing.com Index on Thursday, up 10.36% on the day. It was the largest one-day percentage gain since February 28. The move upwards pushed Litecoin’s market cap up to $3.570B, or 0.37% of the total cryptocurrency market cap. At its highest, Litecoin’s market cap was $25.609B. Litecoin had traded in a range of $49.950 to $51.180 in the previous twenty-four hours. Over the past seven days,… Source link

OpenSea has moved to the “Seaport Protocol,” a new smart contract that the NFT marketplace says will allow its 1.8 million users to save money on Ethereum gas fees. With the Seaport contract, users will be able to save roughly 35% on gas, the company said. And new accounts will no longer require that one-time “setup fee” OpenSea previously charged. NFTs are blockchain-based tokens that show ownership over digital or physical assets. Gas fees are essentially transaction fees, and they… Source link

Web3 infrastructure provider Ankr has been accredited as a Remote Procedure Call provider to Ethereum Layer-2 scaling solution Optimism. This alliance names Ankr as an RPC provider that enables various applications to interact with 17 blockchains including Ethereum, BNB Chain, Solana, and Avalanche. Running RPC node infrastructure helps expand Optimism’s public RPC resources where significant hardware investments and technical proficiency are often seen as barriers to getting started…. Source link

A popular analyst is digging into the charts to set price targets for four crypto assets as the markets tumble. The pseudonymous trader known as Altcoin Sherpa tells his 177,300 Twitter followers that he’s looking at leading smart contract platform Ethereum with one-week candles, and that the $500 to $800 range a possibility if ETH capitulates at $1,000. “Some 1-week targets here. I think $1,000 is a solid short-term bottom for obvious reasons. $800 would be the next area up,… Source link

“Confidence in cryptos remains depressed and some traders are worried that Tether could suffer a similar fate as Terra’s UST stablecoin,” Edward Moya, a senior market analyst at Oanda, said. “Too many institutional crypto investors are down massively, and they are worried that if this part of the crypto ecosystem collapses, Tether will crash.” Source link

Bitcoin (BTC) has been unable to restore the $24,000 support since Celsius, a popular staking and lending platform, paused withdrawals from its platform on June 13. A growing number of users believe Celsius mismanaged its funds following the collapse of the Anchor Protocol on the Terra (LUNA; now LUNC) ecosystem and rumors of its insolvency continue to circulate. An even larger issue emerged on June 14 after crypto venture capital firm Three Arrows Capital (3AC) reportedly lost $31.4 million… Source link

Mehracki Token, $MKI, is a meme coin powering a robust utility and ecosystem. Many meme tokens follow the same route to maintain their viability in the crypto market. Mehracki was named after the truism of crypto minting and sought to invigorate the lost enthusiasm among crypto investors and users. Neo, formerly Antshares, is a blockchain protocol aimed at disrupting the crypto industry by introducing scalable smart money for digital assets. $NEO is looking to moon past its price range… Source link