LBANK INFO CRYPTOCURRENCY

MATIC made a 180-degree turn at the beginning of the year, following Bitcoin’s lead. The token, used to govern and secure the Polygon Network, had consolidated since mid-July, with some erratic price action recorded in November. At the time of writing, Polygon’s token has maintained its momentum since January with a gain of 42.6%, breaking the range formed in 2022. Can MATIC holders continue the streak and aim for further gains? February, A Month Of Love Or Disappointment For MATIC? MATIC’s funding rates remain neutral, with long positions paying short positions on most exchanges, except OKX and CoinEx. According to on-chain analytics firm Jarvis Labs, negative rates and aexceptikely present as a buying on-chainity for investors. In addition to the above, the number of active addresses fluctuates according to MATIC’s price. Whenever the price action dips, the number of addresses follows. However, according to historical data from Jarvis Labs, the number of addresses holding the t...

DekaBank, a 105-year-old bank managing over $428 billion in assets, has signed a deal with Metaco to begin offering digital assets to institutions.  DekaBank To Use Metaco’s Harmonize Details from a  press release on January 31 state that DekaBank will leverage Metaco’s Harmonize, a “custody and orchestration” platform. The custody platform will be an essential portal for DekaBank, allowing Metaco to manage all its digital asset operations. The partnership follows what the bank said was a rigorous selection process and thorough proof-of-concept.  Harmonize was developed and launched in partnership with top-tier global banks. Metaco said Harmonize allows launching “complex banking value propositions around digital assets, such as custody of cryptocurrencies and digital securities, underpinned by institutional-grade security and compliance standards.” By choosing Metaco, a Swiss-based firm specializing in crypto, DekaBank is endorsing the industry and offering to expan...

Ever since Ethereum transitioned to a proof of stake (PoS) consensus mechanism, the popularity of liquid staking protocols such as Lido Finance and total ETH staked has increased over time. According to the latest update, the total ETH stake in one of the widely used staking protocols, Lido finance, has set a new milestone.  This spike precedes the soon-to-launch Shangai update that would finally allow Ethereum stakers to withdraw their staked coins. As reported by on-chain’s analytics platform, IntoTheBlock, the total amount of ETH staked has reached $5 million. Overall, more than 16 million in ETH worth $25.6 billion at the time of writing have been deposited into Ethereum’s Beacon Chain staking contract, indicating the rapid adoption of the Ethereum network.  Ethereum Staking Withdrawal Testnet To Go Live Feb. 1 While the total ETH staked has only continued to increase, Ethereum developers also seem to be working so hard to enable the withdrawal of the ETH staked. Acco...

Sentiment data reveals that the Bitcoin price upwards trend from November lows to as high as $23,960 on January 30 was marked by “sober” traders. Bitcoin Traders Are Not Greedy Per the Fear and Greed Index, the 40% surge of BTC prices to January highs is unlike other periods in the coin’s boom and bust cycle. When BTC rose to bottom-up from November lows following the FTX contagion, the Fear and Greed Index spiked to a maximum of “55”. Although this is still “Greed,” indicating a possible Fear of Missing out (FOMO) amongst traders, it is suppressed compared to the 2018 to 2019 cycle. By overlaying the sentiment index’s reading with BTC prices over months and years, it is clear that the spike to spot levels was approached with caution and even levels of risk management. Fear gripped the market in late 2018 when prices sank below $4,000. However, once prices began turning around ahead of the Bitcoin halving in 2019, traders doubled in droves, forcing the index reading to “69”, the ...

Bitcoin price started another increase above the $23,000 resistance. BTC is rising and the bulls might aim a test of the $25,000 resistance zone. Bitcoin is gaining pace above the $23,500 resistance zone. The price is trading above $23,000 and the 100 hourly simple moving average. There was a break above a key contracting triangle with resistance near $23,145 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise further towards $25,000 if it stays above the $23,450 support zone. Bitcoin Price Starts Increase Bitcoin price remained well bid above the $22,500 support zone . BTC formed a base and started a fresh increase above the $23,000 resistance zone. The bulls were able to pump the price above the $23,200 resistance and the 100 hourly simple moving average. The price even cleared the $23,500 resistance zone and traded to a new yearly high at $23,950. During the increase, there was a break above a key contracting triangle with resistance near $2...

The Litecoin price has shown considerable recovery ever since it reached its bottom in December 2022. LTC secured almost 50% appreciation in January this year. Currently, however, the altcoin has witnessed a price pullback and is consolidating on its daily chart. Over the last 24 hours, the Litecoin price moved down by 0.3%, which signified a range-bound movement. The altcoin also lost close to 3% of its market value. The technical outlook of Litecoin pointed towards bullish momentum as demand for the altcoin remained high on the daily chart. Accumulation also reflected the same. Price noted a decline as LTC receded from the overbought zone. Buyers still have the upper hand on the chart. A continued fall in accumulation will cause bears to secure Litecoin’s price action. That momentum would continue for the upcoming week, causing LTC to fall below its nearest support level. At the time of writing, LTC was trading 78% below its all-time high set in 2021. Litecoin Price Analysis: One...

The conditions of the cryptocurrency market have changed drastically; according to an analysis by QCP Capital, the options market in its current state makes the crypto industry look like a major crisis, such as the shutdown of crypto exchange FTX after filing for bankruptcy, never happened. Trading desk QCP Capital published observations on the crypto industry, revealing some key points to consider for the coming months. The Crypto Market Comes Back To Life QCP’s analysis points out that Bitcoin (BTC) risk reversals have been trading in positive territory over the past week, which tells us that calls (buys) have been more expensive than puts (sells) since 2021 across multiple tenors. This is unusual for the sector as BTC typically has a persistent put skew, mainly due to miner/treasury hedging activity. The chart below depicts this market behavior and the bullish sentiment impacting the options sector. Put skew drives the price of puts higher and calls lower. This difference in ...

XRP bulls are trying to ride the wave along with Bitcoin to reclaim previously lost territory. The bulls are targeting new annual highs. XRP has been trading in the green zone since the beginning of the year with a strong recovery and bullish sentiment from its investors. At press time, XRP is trading at $04.96, representing a gain of 0.78% in the last 24 hours. The token is auctioning 34% below its 2018 high of $3.40. Can XRP Sustain Its Bull Streak? XRP started the year with a spike in volatility that characterized the market and has been able to profit 11.85% in the last 30 days, pushing its market cap to $20.6 billion.  In addition, the trading volume that XRP has experienced in recent days and weeks and the profitable trend of XRP shows that market makers are involved in the project. According to a recent report from NewsBTC , it’s possible to assume that  XRP whales are once again buying and accumulating the token.  This increase in activity in the XRP Ledger’s...

Uniswap (UNI), a decentralized protocol, is ready to roll out the third version of its platform. The protocol aims to provide a suitable platform where users can seamlessly swap ERC-20 tokens without using an order book. For the v3 launch, the protocol carried out a ‘temperature test’ for a possible blockchain to use. The proposal was for deploying Uniswap v3 on the Binance Smart Chain (BNB) instead of the Ethereum blockchain. The proposal got the UNI community voting on its government forum using their UNI tokens. Surprisingly, about 80% of the UNI holders supported the Uniswap v3 deployment on the BNB Chain, Ethereum’s rival. Unfortunately, this left a smaller percentage of votes for the Ethereum blockchain, making it lose the temperature check proposal. We’re excited to share that our @0xPlasma proposal to deploy @Uniswap v3 on @BNBCHAIN has passed the "Temperature Check" with 20M votes "YES" and 6,495 $UNI voters (the biggest number for the whole Uniswa...

According to a report by Bloomberg, crypto exchange Binance has announced that one of its fiat trading partners, Signature Bank, will no longer be processing transactions of less than $100,000 as the bank attempts to reduce its exposure to the cryptocurrency market. Binance said this is a broad action affecting all crypto exchanges dealing with Signature bank. And that efforts are underway to find an alternative solution immediately for members of its user community whose accounts are serviced by this bank. “One of our fiat banking partners, Signature Bank, has advised that it will no longer support any of its crypto exchange customers with buying and selling amounts of less than 100,000 USD as of February 1, 2023. This is the case for all of their crypto exchange clients. As a result, some individual users may not be able to use SWIFT bank transfers to buy or sell crypto with/for USD for amounts less than 100,000 USD,” the statement sent by Binance to Bloomberg News on Saturday, sa...

After 216 days, the Bitcoin Market Value to Realized Value (MVRV) ratio  finally broke above 1, making this accumulation the second longest after it took BTC prices 300 days to bottom up after the bear run of 2014-2015. It also signals the likelihood of another refreshing BTC rally after gains of last week. Bitcoin’s MVRV Breaks Above 1 The breakout coincided with BTC prices surging to as high as $23,300 on Saturday, January 21, a positive development, especially for optimistic holders.  As of writing on January 22, prices have cooled off, and the coin is trending at around $22,700, albeit with relatively low trading volumes. Still, the retracement puts BTC within a bullish formation following impressive gains on January 20 when the coin printed higher, defying gravity and confirming demand. The MVRV ratio changes depending on Bitcoin’s market forces. The prevailing sentiment is that BTC is bottoming up. Bulls could be preparing for another leg up, injecting the much-ne...

In recent times, the Solana price has witnessed a considerable upward push, which made the coin breach important resistance levels. Over the last 24 hours, SOL has rallied close to 20%, and in a week’s time, the altcoin has appreciated close to 40%. As Bitcoin’s price has remained above $20,000, most altcoins have shown positive price momentum on their respective charts. If Bitcoin continues to climb higher, then short-term bullish momentum will prevail across the market. The technical outlook of Solana has pointed towards the bulls, but the chart also reveals that as the coin has been overbought, SOL would eventually witness a price correction. Accumulation remains high on the chart as demand for the coin has been at a multi-month high. Solana could present its buyers with buying opportunities; the coin might retrace on its chart and then rise again. The market capitalization of Solana increased, which meant that there had been an increase in buying strength. Currently, Solana has ...

The Polkadot price has breached the $5 resistance mark in the past trading sessions. Over the last 24 hours, DOT has appreciated by 3.8%. The price of Bitcoin has been surging, which has caused other altcoins to also move upward on their respective charts. When Bitcoin crossed the $18,000 price mark, other altcoins broke past their immediate resistance marks. Polkadot price momentum remains bullish in the shorter time frame. The technical outlook for DOT showed that despite a price correction, accumulation on the chart increased. Polkadot demand also showed an increase on its chart. The asset’s price has to remain above the $5.40 support line and breach the $6.20 resistance level if the coin has to maintain a bullish stance for a longer time frame. The daily chart of DOT also points towards an incoming fall in price, which means that traders might be presented with shorting opportunities. Currently, DOT is trading at an 89% discount from its all-time high secured in 2021. Polkadot ...

Bitcoin price is attempting a fresh increase above the $21,200 resistance zone. BTC could gain bullish momentum if there is a clear move above the $21,500 resistance. Bitcoin corrected lower, but it found support near the $20,500 zones. The price is trading above $21,000 and the 100 hourly simple moving average. There is a short-term key bullish trend line forming with support near $21,050 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if there is a clear move above the $21,500 resistance zone. Bitcoin Price Remains Supported Bitcoin price started a downside correction from the $21,500 resistance zone. BTC declined below the $21,000 support zone, similar to ethereum . However, the bulls were active near the $20,500 and $20,400 support levels. A low is formed near $20,395 and the price is now rising. There was a clear move above the $20,850 resistance zone. The bulls pushed the price above the 50% Fib retracement level of ...

The beta testnet of Shibarium will soon release, benefiting the entire Shiba Inu community. Shibarium is a layer-2 network operable on the Ethereum mainnet. After the release of Shibarium, the Shina Inu community can build and grow projects. The release of Shibarium will address the scalability, speed, and expense challenges facing the existing projects on Ethereum.   Shiba Inu Shibarium Beta Testnet Release Shiba Inu developers will only release a beta testnet version in the coming months. A testnet mimics the use cases and applications of real-world functions. Its release aims to test the network for any gaps or performance issues and assess its capabilities. Moreover, the layer two testnet aims to address the issues faced with scalability and data.  With this release, Shiba Inu developers wish to educate the community about a blockchain’s development process from scratch. Before its release, some experts claimed Shibarium was a marketing move and a price “increase gimmic...

The price momentum of VeChain (VET) registered a halt over the last 24 hours after the altcoin started to trade laterally. In the same time frame, the coin dipped 0.9%, which is minor meaning that VeChain was in consolidation. The coin had picked up bullish momentum at the beginning of this year, but the bears could not sustain the price above the $0.021 mark. The technical outlook of VeChain still points towards bullishness. The altcoin was overvalued at the time of writing, which emphasizes that a price correction is on the way. A price correction also presents a shorting opportunity for traders. The accumulation on the chart also noted a downtick, but despite the downtick, demand for VET was substantial. However, VET will soon lose its current price level if buyers continue to lose interest. At the moment, VeChain has secured the $0.019 price level as its current support mark. Moving below the price above the mark will make VeChain come under the influence of bears again. The VET...

Bitcoin price climbed further higher above $21,000. BTC is rising and might aim a move towards the $22,000 resistance zone in the near term. Bitcoin climbed further higher above the $20,000 and $20,500 resistance levels. The price is trading above $20,200 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $20,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise further above the $21,500 resistance zone in the near term. Bitcoin Price Gains Bullish Momentum Bitcoin price gained a strong bullish momentum and settled above the $20,000 resistance zone. BTC even climbed above the $20,500 level to move into a positive zone. The price consolidated for some time above the $20,500 level. A high is formed near $21,484 and the price is now showing signs of more upsides . It is now trading above $20,200 and the 100 hourly simple moving average. There is also a major bullish trend line forming with su...

Due to the Bitcoin (BTC) and crypto market uncertainty, predicting the following trend pattern for crypto assets is usually difficult. However, analysts have always released predictions for most crypto assets. While some projections turned out to be accurate, some still failed to happen as predicted. One analyst became popular for releasing an accurate prediction for Bitcoin’s 2018 bottom six months before the period. However, the pseudonymous analyst and trader, Smart Contracter, is suddenly bullish in his recent predictions. Analyst Scraps Bearish Stance On Bitcoin (BTC) Smart Contracter took to Twitter to inform his followers about his plan to scrap his bearish bias on the BTC/USD trading pair. His new decision was based on the recent Bitcoin price breaking out to a higher range. Smart Contracter noted that Bitcoin could perform better than other cryptocurrencies in the future. He explained that the BTC’s price action is currently more impressive due to the impulsive dispositi...

Polkadot provides interoperability among several blockchains for users while maintaining high scalability and speed in processing transactions. Also known as a multichain network, Polkadot supports many parachains, enabling developers to build their blockchains seamlessly. Several blockchain projects exist in the decentralized finance (DeFi) sector. These platforms usually emerge with different products and services related to cryptocurrency and blockchain technology. Subsequently, users became intrigued with the full potential packed in the DeFi space. However, there was the challenge of how a user could access more than one blockchain and DeFi application through a single platform. This is where the value proposition of the Polkadot became prominent. The last few months in 2022 were tough in the crypto market as most crypto assets and projects saw a drastic drop in performance. In addition, the unexpected collapse of the FTX crypto exchange brought a devastating condition that cre...

Bitcoin price extended its rise and traded towards $17,400. BTC is correcting gains, but it remains well supported near the $17,000 zone. Bitcoin extended its increase above the $17,000 and $17,200 resistance levels. The price is trading above $17,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $16,880 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise further if it stays above the $17,000 support and the trend line. Bitcoin Price Extends Increase Bitcoin price remained in a positive zone above the $16,800 level. BTC extended its increase after there was a clear close above the $17,000 level and the 100 hourly simple moving average. The price gained pace and traded above the $17,250 level. It traded to a new yearly high at $17,391 before the bears appeared. There was a minor downside correction below the $17,250 level. It is now trading near the 50% Fib retracement level of the upward ...