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Cardano (ADA) has been experiencing a noteworthy surge in accumulation despite prevailing bearish sentiment in the market.  Despite a 35% decline in its market cap over the last four months since the yearly peak, trader sentiment toward Cardano remains subdued. However, this hasn’t dissuaded large holders from showing a continued interest in the asset. Per the data from Santiment, the number of wallets holding 100,000 or more ADA tokens has reached its highest level in 16 months, with a current count of 25,294 such addresses.  Trader sentiment toward #Cardano continues to be low as its market cap is down 35% since topping 4 months ago. However, the sharks & whales haven't been as deterred as one may think. There are now 25,294 wallets with 100K+ $ADA, the most in 16 months. https://t.co/Q5XKveRh5n pic.twitter.com/D0dcfM6LAy — Santiment (@santimentfeed) August 14, 2023 This accumulation trend bucks the overall market sentiment, indicating a strong ...

Bullish crypto traders are struggling to clear the overhead barrier in Bitcoin and select altcoins, indicating that bears have not given up yet. Bitcoin continues to trade near $31,000, making it an important resistance level to watch out for in the short term. Some analysts believe the current consolidation could result in an upside breakout in Bitcoin. The institutional investors also seem to be positive about the prospects of a further rally in Bitcoin (BTC). CoinShares head of research James Butterfill said in a recent report that 98% of all the digital asset inflows of $334 million went into Bitcoin-related products. Daily cryptocurrency market performance. Source: Coin360 Although the short-term price action on Bitcoin and select altcoins looks positive, market participants should stay cautious due to the uncertainty regarding macroeconomic issues. The crypto markets are likely to be influenced by the United States inflation figures and the Federal Reserve’s monetary action over...

Today's CPI report highlighted a slight decline in inflation, a development which could put a strong price floor beneath Bitcoin and select altcoins. The March consumer price index climbed marginally by 0.1%, below economists' expectation of a 0.2% increase and February’s advance of 0.4%. Although inflation is showing signs of slowing, the year-on-year CPI increased by 5%, well above the Federal Reserve’s 2% target.  The FedWatch Tool shows a 67% probability of a 25 basis point rate hike in the Fed’s May meeting but by the end of the year, the majority of the market participants have come to expect rates to be lower than the current level. Daily cryptocurrency market performance. Source: Coin360 An expansive monetary policy is usually positive for risky assets. In addition, crypto traders will focus on Bitcoin’s (BTC) halving which is set to occur next year. That is also likely to be a positive for cryptocurrency prices. While the near-term picture is uncertain, the long-term...

Bitcoin and select altcoins are close to breaking out of their overhead resistance levels, indicating that bulls remain in control of the crypto market. Bitcoin (BTC) is up about 71% in Q1 2023, which is the first positive quarter after four consecutive quarters of negative returns in 2023, according to data from Coinglass. This shows that the sentiment has turned positive and the bulls are trying to put a bottom in Bitcoin. When the undercurrent is bullish, negative news results in shallow corrections. That is what happened after the United States Commodity Futures Trading Commission slapped a lawsuit against Binance and its CEO Changpeng Zhao for trading violations. This news pulled the markets marginally lower but did not start a strong down move. Daily cryptocurrency market performance. Source: Coin360 Another thing that happens in a bullish environment is that cryptocurrencies move up without any specific catalyst. That happened on March 29 when Bitcoin and several major altcoin...

This year has typically been characterized by announcements related to bankruptcies and collapses of cryptocurrency firms within the industry. With the fundamentals weakening, asset prices found it difficult to stay afloat. As a result, 2022 almost entirely belonged to the bears. With less than a fortnight left for this year to wrap up, let’s analyze the top coins so far in 2022. LunarCrush, a social intelligence platform for cryptocurrency assets, released a list of the top-10 coins over the past year, based on their Galaxy Score. The said score measured the coin’s past performance against itself. A higher rank indicated that a particular asset is performing well from different perspectives like the social volume, market volume, price moving average, and more. Looking at the yearly frame of this metric will put things into perspective for 2022. Source: Twitter Ethereum Leads The Show Per the list, Ethereum bagged the first position. This ranking goes without sur...