After consolidating above $20 for a prolonged period of time, Chainlink has finally managed to breach the $30-price level, checking off another valuation target for the year 2021. In fact, in the year 2021 alone, Chainlink has surged by close to 172%, with the crypto recording YTD returns of 132%, at press time.

In the last six hours alone, LINK climbed by over 8% on the price charts.

LINK first gained significant traction in mid-2020, with the crypto-asset becoming one of the cryptos leading the altcoin season soon after.

Interestingly, the writing was already on the wall since Chainlink’s price only recently successfully breached an ascending channel on the price charts. In fact, the resistance just above $26 was tested four times before the eventual rally to $30, with the pattern briefly broken in the previous instance as well.

At the time of writing, market indicators were bullish for LINK. However, a possible correction may also take place, pulling the crypto’s value down to the support at $24.

One of the major advantages of supporting Chainlink’s hike is the consistent development from a technological perspective. Just a few days back, Kraken integrated a Chainlink node to bring spot price data to DeFi. Chainlink’s price reference data is one of the most widely-used decentralized oracle solutions in the DeFi space, and it remains credible to the fact its activity is also up by 60% since the start of the year.

Chainlink still being in price discovery mode helps the crypto-asset attain consistent bullish tops in the present market. Additionally, LINK’s Daily Active Addresses also registered a record high recently, although a divergence was identified on the chart as well. Its Network Growth too climbed to an ATH level recently.

LINK’s price surges have been supported by a host of other metrics too. Chainlink’s Token Circulation Level, for instance, is flashing bullish signals for the 13th straight month, according to Santiment.

Trading at such a high range, a section of the market’s investors will always be willing to sell in order to cap in some profits. Hence, the hodling sentiment will play a key role in the future for Chainlink.

Are retail traders ready to spend their Bitcoin?

Cardano, Tezos, VeChain Price Analysis: 12 February

Biraajmaan covers market trends of major cryptocurrencies. As a graduate in engineering, his interests lie in Blockchain technology. With over a year as a journalist, his articles focus on US and UK markets.

Bitcoin’s comeback to $55,000: When and how?

Why it’s critical to monitor Bitcoin miners’ position over the next 2 weeks

Swiss private bank Bordier & Cie SCmA offers trading in Bitcoin, Ether and Tezos

Chainlink, Cosmos, Enjin Price Analysis: 24 February

XRP, LTC, DOGE holders might soon be able to create ‘stable tokens’ on Flare

Oxygen Protocol to list OXY tokens on BitMax

After recording yet another ATH on the charts, one well beyond $1,800, Ethereum currently has its eyes set on the $2,000-mark. While quite a few of its on-chain metrics are flashing positive signs, other noticeable concerns are creeping up as well. The culprit here, according to many, is a familiar foe (fee*).

Additionally, it was also identified that addresses holding significant amounts of ETH have registered constructive growth, with the number of addresses holding at least 10k ETH improving too. Now, with the introduction of CME ETH Futures, the mood around Ether is even more hopeful, however, its massive transaction fees deserve a lot of scrutiny too.

That is the biggest issue for Ethereum right now. The high transaction fees are only due to the increasing demand for block space on its network. However, the fees are getting a little out of hand and climbing to new all-time highs too, even when compared to the highs registered during the DeFi season of August-September 2020.

According to the aforementioned report,

“The average ETH transaction fee reached $25.80, its highest level ever. The median transaction fee topped $14.32.”

For context, Ethereum miners earned $3.74 million in a single hour last Friday, amassing over $55 million on the same day; another ATH.

A major concern associated with large fees is that the median value of the transaction is currently going up and it may lead to smaller investors getting priced out of the network. The same goes for developers as if DeFi devs identify a better scalable network, they may jump ship if Ethereum is not able to solve its fee-situation.

According to Ryan Selkis of Messari, EIP-1559 makes a compelling argument, but,

“It also ignores the reality that Ethereum’s scaling plans explicitly call for pushing transactions off of the expensive, gas-guzzling main chain and onto roll-up chains (or competitive layer 1s).”

Now, other competitive layers might be catching up already.

Some of the other primarily scalable layer 1 networks have completely outperformed Ethereum in 2021, networks including Cardano and other rising projects such as Polkadot and Avalanche. Here, it is important to note that the volume of activity witnessed by Ethereum is levels above these other projects, but their growing valuation suggests they have improving traction as well.

Ethereum might be on the clock to limit its transaction fees over the next few months, otherwise, these projects will only go on to gain even more traction.

EOS, Aave, UNI Price Analysis: 10 February

XRP, Algorand, Zcash Price Analysis: 10 February

Biraajmaan covers market trends of major cryptocurrencies. As a graduate in engineering, his interests lie in Blockchain technology. With over a year as a journalist, his articles focus on US and UK markets.

Cardano Price Analysis: 22 February

Binance Smart Chain, DeFi, and Ethereum: A trinity possible?

Cardano surges past $1 for the 1st time since January 2018

Cardano’s price falls by 6 percent after registering ATH at $1.21

Ethereum’s first-mover advantage in capturing monopoly ‘means nothing:’ Cardano’s Hoskinson

Why Mark Cuban believes Ethereum is becoming a better store of value than Bitcoin

Tezos surged above the $4 mark and went past the previous all-time high at $4.44, which Tezos registered on August 13, 2020. Since registering an ATH back in 2020, XTZ had sunk into a downtrend that lasted well into November, where it found its bottom at $1.79.

In December, Tezos attempted to climb past $2.4 but faced stiff selling pressure that drove it as far south as $1.75, but the bulls persevered and succeeded in driving the prices back above $2.4. Although volatile, XTZ did see steady gains posted throughout January and has continued its uptrend into February. At press time, Tezos went past the $4.5 level, however, the price was quick to retrace and currently trades at around $4.4.

The breakout past the $4.25 resistance level is a sign of intent from bulls, and there is no technical resistance area for XTZ overhead. The psychological $5 would be the next mark for bulls to achieve.

Over the past few months, Tezos has seen some important news developments. Most recently, the announcement that the crypto asset manager Grayscale had incorporated six more trusts, with one of them being tied to the XTZ token, was seen as strongly bullish news. Grayscale offers products that meet investor demands, which is a healthy sign of interest for a coin ranked 24th in the crypto ecosystem in terms of market capitalization, according to CoinMarketCap.

The Homebase project was announced around three weeks ago according to Tezos and it “will enable anyone to create and interact with DAOs on Tezos based on a new smart contracts framework called BaseDAO“. Developments such as this also may have fuelled the Tezos rally.

The real 24h volume of XTZ was in the region of $270 million, which differs from the reported daily trading volume of $916 million. The real volume accounts only for information from ten trusted exchanges and is an attempt to prevent misinformation from less trusted exchanges in the form of wash trades.

The liquid inflation rate is expected to hover around the 9.3% mark, and the stock to flow ratio was 10.79, compared to 59 for gold and 51.5 for Ethereum.

While the annualized staking yield gives a respectable 6.94% per annum, the real annualized staking yield was a worrying -2.1%. The real yield is calculated by adjusting the nominal staking yield with the inflation rate for XTZ. Tezos has a minimum staking period of 35 days and the user will receive rewards every three days thereafter.

The change for XTZ as measured against BTC has been less than flattering for the past three months. However, when BTC was ranging between 30.5k to 41.1k in January, Tezos sprinted upward and gained nearly 70% in value against USD.

The bull market in the crypto sphere has taken hold and Tezos can be expected to rise further over the coming weeks as investor interest in cryptocurrencies seems to grow week on week.

Ethereum, Aave, Monero Price Analysis: 12 February

Litecoin, Algorand, DigiByte Price Analysis: 12 February

Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.

Swiss private bank Bordier & Cie SCmA offers trading in Bitcoin, Ether and Tezos

Tezos, Synthetix, Verge Price Analysis: 24 February

Litecoin, Tezos, IOTA Price Analysis: 22 February

Tezos, Waves, Maker Price Analysis: 17 February

Bitcoin Cash, Tezos, FTX Token Price Analysis: 15 February

Tezos, UNI, Dogecoin Price Analysis: 13 February

ADA price – Binance Coin (BNB) Makes it to a New ATH: Why is BNB Spiking?

Binance Coin spiked on February 10th, reaching a new ATH after the crypto reached the price of 147$ from the lowest weekly point when it traded at the value of 68$. The crypto is not the only asset in the market showcasing bullish momentum as other cryptos like Bitcoin (BTC), Dogecoin (DOGE), Chainlink (LINK), and Cardano (ADA) are also reaching new highs and recording major gains. What is the reason for the latest rise of Binance Coin and what would be the next price target for BNB?

On February 10th, BNB went through a sudden spike which brought the crypto to new highs in 2021. Thanks to the latest bullish momentum, Binance Coin scored a new all-time high and a record price in the history of BNB, reaching 147$ per one unit. Thanks to the latest bullish momentum, BNB weekly chart is showcasing 140% of returns with more gains on the biweekly, monthly, and yearly chart. The recent rises for BNB came with Binance introducing new development projects for several cryptocurrency products. BNB, being the official crypto to the Binance universe and exchange, gained positive momentum due to the new developments. BNB serves the purpose of covering fee expenses on the Binance trading platform, allowing traders to take advantage of lower trading fees when paying with Binance Coin. As Binance is developing, BNB is becoming a more valuable part of the Binance ecosystem.

Image credits: Cover photo taken from Crypto Finance on Medium

ADA price – Binance Coin (BNB) Makes it to a New ATH: Why is BNB Spiking? Tags: ADA price, Cardano

Ethereum price Today – Bitcoin Sets New ATH, Ethereum and Altcoins Remain Supported

Bitcoin price gained bullish momentum above the USD 47,500 and USD 48,000 levels. BTC even traded to a new all-time high near USD 48,600 before correcting lower. It is currently (05:00 UTC) trading below USD 48,000, with major supports at USD 47,000 and USD 46,500.

Besides, most major altcoins are holding gains above key supports. ETH is struggling to gain momentum above USD 1,800, but it remains supported above USD 1,700. XRP/USD gained over 8% and it even spiked above the USD 0.550 resistance.

Total market capitalization

There was a steady increase in bitcoin price above the USD 47,000 resistance. BTC even traded to a new all-time high near USD 48,600, but there was no major follow through. The price failed to test USD 49,000 and started a fresh decline. There was a break below the USD 48,000 and USD 47,500 levels. An initial support is near the USD 47,000 level. The first major support is now forming near the USD 46,500 level. The next key support is at USD 46,000. On the upside, the USD 48,000 level presents resistance.

Ethereum price struggled to break the USD 1,820 and USD 1,830 resistance levels. ETH is correcting lower and trading well below USD 1,800. It is testing the USD 1,740 support, below which it might test the USD 1,700 support. Any more losses may possibly open the doors for a push towards the USD 1,650 level. On the upside, an initial resistance is near the USD 1,800 level. The main breakout zone is now forming near the USD 1,820 and USD 1,830 levels.

Cardano (ADA) almost tested the main USD 1 resistance level. A high is formed near USD 0.980 level and the price is currently correcting lower. It traded below the USD 0.920 support and it seems to be approaching the USD 0.880 support. The main uptrend support sits at USD 0.850, where the bulls might take a strong stand. Litecoin (LTC) retested the USD 192 resistance before dipping below USD 185. LTC is testing the USD 180 support, below which it might find a strong buying interest near the USD 175 level. On the upside, the USD 188 level is a short-term resistance. The first major resistance is at USD 192 and USD 195, followed by USD 200. XRP price performed well after it settled above the USD 0.520 resistance. The price even surged above the USD 0.550 level and tested USD 0.570. It is correcting gains, but dips might remain limited below USD 0.532 and USD 0.520. On the upside, the main target for the bulls could be USD 0.585.

Many altcoins gained over 20%, including GRT, NANO, ENJ, VGX, (BA)T, YFI, OCEAN, STX, FTM, VET, XMR, ATOM, MIOTA, ZEC, and ZRX. Out of these, GRT surged 85% and it cleared the USD 2.20 level.

Overall, bitcoin price is correcting gains from well above USD 48,000. BTC might even test USD 46,000, but the overall price action suggests more upsides in the near term. _____

Ethereum price Today – Bitcoin Sets New ATH, Ethereum and Altcoins Remain Supported

Binance Coin (BNB), the native utility token of the Binance ecosystem is on a dream bull run as the token price attained a new ATH of $194 after surging nearly 44% over the past 24 hour. BNB’s phenomenal price rise also helped it make it to the top 5 cryptocurrency by market cap list for the first time.

The massive rise of the BNB is being attributed to the rising popularity of its native blockchain called Binance Smart Chain that has become the growing choice of ERC-20 users because of the rising gas fee on the Ethereum network.

The Binance Smart Chain offers ERC-20 transactions at a much cheaper price than the Ethereum network and BNB being the native token as result saw a great demand in this period. The soaring demand for the token is evident from record BNB volumes worth hundreds of millions of dollars.

Binance Coin was trading just above $46 mark at the start of Febraury having never touched the three figure price. The price rise over the past two weeks has diminished even Bitcoin and Ethereum that has attained new all-time-highs this week. Many Binance fan also attribute the price rise to the quarterly tokern program, however at this point the rising popularity of the native chain seem to be the prominent driving factor. The CEO of Binance believe that the native chain has passed the tipping point of user acceptance and usage.

— CZ 🔶 Binance (@cz_binance) February 18, 2021

The growing popularity of Binance Smart Chain owing to high gas fee on Ethereum network has also initiated the debate over scalability issues with decentralized system something that has haunted Ethereum for quite some time now and one of the prominent reasons behind the move to Proof of Stake based ETH 2.0. Many point towards Binance’s alleged centralized chain functioning better in processing ERC-20 transactions at a much lower fee.

After the recent price rally of Bitcoin (BTC) following Tesla’s $1.5 billion purchase of the coin, another crypto asset has taken another leap in price. BitTorrent (BTT) rose by more than 156% within a day to close at $ 0.00192 on February 9, hitting a new all-time high in the process.

BitTorrent was bought in 2019 by Tron Chief Executive Officer Justin Sun. BTT was immediately integrated into the Tron Blockchain after the acquisition.

The cryptocurrency has been quiet for months now, but it seems the bullish run in the market has galvanized the coin. It has maintained a 24-hour upward movement for the past several days now.

BitTorrent’s performance is not unique only to the cryptocurrency, as other coins have been performing well too. This has been attributed to strong institutional demand in the market.

Several altcoins rallied above 20% within the same period. These include BTT, TRX, AVAX, RUNE, EGLD, DGB, XVS, and LUNA. However, BitTorrent  (BTT) is the highest gainer. In fact, it’s the highest gainer when it comes to the top 100 cryptocurrencies.

The massive surge of BTT has not been triggered by any buzz or fundamental activities surrounding the token. This gives credence to the idea that the high price may be triggered only by traders who buy BitTorrent. It could also be linked to those investing in TRON, known that both tokens share the same ownership.

On February 5th, Tron began its registration for the global DeFi hackathon event, with prizes worth $10 million set to be distributed at the event. The first and second price will be $1 million, while the special TRON (TRX) price is $500,000.

Observers say BitTorent’s link to Tron could have spurred the token’s price. The price of BitTorrent was hovering between $0.0002 and $0.0004 before it took a massive leap within 24 hours. It has also hit a milestone when it comes to market capitalization at $16 billion.

The market’s top two cryptocurrencies lead the charge as the weekend begins, setting new all-time highs as the week’s best performers settle.

First-mover Bitcoin (BTC) took its first-place rank in the cryptocurrency market seriously today, setting a new all-time high of $57,851.30 just hours ago.

BTC now has a market capitalization of $1.063 trillion, another record high. The astronomical performance is attracting investors from all round, both retail and institutional.

In fact, there are growing concerns that an inevitable supply shortage looms.

The market’s second most valuable cryptocurrency, Ethereum (ETH), is not far behind. Earlier today, ETH smashed records, breaking above the $2,000 mark for the first time in its history.

While ETH holders are likely to be delighted with the second cryptocurrency breaking this frontier, the rise in gas fees is already concerning to users.

Indeed, the top pair may have taken some of the momenta away from the week’s top performers. After topping $300 for the first time yesterday, before hitting an all-time high of $339.94, Binance Coin (BNB) is seemingly taking a breather as the weekend begins.

Interestingly, traders seem to be choosing to buy and hold over opening leveraged positions.

BeInCrypto reported earlier that the funding rate for BTC denominated perpetual swaps across major exchanges, remained low at 0.05%.

This also suggests shorters have not yet found a suitable entry for the top cryptocurrency, indicating the market expects more heights.

Confirming this sentiment, it was revealed that newly launched BTC exchange-traded funds (ETFs) saw record investments last week.

After winning approval from regulators on Feb. 11, the Purpose Bitcoin ETF, hosted by Canadian firm Purpose Investments, gained over $400 million in assets under management (AUM) after just two days of trading.

Moreover, several other ETFs have either launched or are seeking approval to launch on the Toronto Stock Exchange (TSX).

The interest in BTC ETFs indicates a move towards the cryptocurrency market by seasoned institutional investors.

Despite the seeming seal of approval from “smart money” investors, regulators remain cautious. U.S. Treasury Secretary Janet Yellen recently reiterated concerns about the top cryptocurrency’s volatility, calling BTC “highly speculative”.

Moreover, the Securities and Exchange Commission’s (SEC) case against Ripple Labs still looms over the space with a hearing scheduled in two days.

The results of this case could impact the classification of cryptocurrencies in the United States.

At least for now, the prospect is doing no harm to the cryptocurrency market. Bitcoin seems to carry on with a moon-targeted rally.

Emmanuel entered the cryptocurrency space in 2013 as a cryptocurrency broker. He is a crypto-enthusiast, entrepreneur, and investor, who has built and led several projects and communities in the space. He is CEO and co-founder of Provence Intelligence, a boutique crypto-consultancy firm that aims to bridge the gap between the cryptocurrency and DLT space and the traditional world. Interests include DeFi, non-blockchain DLTs, and the synthetic derivatives space.

Bitcoin (BTC) has set its all-time high at $48,745.73 on Chinese New Year Day. Its market cap is around $900 billion and fully diluted market cap is just over $1 trillion. 24-hour trading volume of $82,236,666,743 USD. Bitcoin is up 7.40% in the last 24 hours.

The strong rally came about with world richest man- Elon Musk supporting Bitcoin on Twitter and then confirming that Tesla owns $1.5 billion worth of Bitcoin added to their balance sheet with the core purpose to accept payment for their vehicles.

Mastercard network announced that they will bring crypto to their business. This helps more merchants to accept cryptocurrencies as payment and aid the adoption of crypto further. Mastercard’s plan is obvious as we saw their team up with Wirex and BitPay to create crypto cards that allow people to transact using their cryptocurrencies.

“We are here to enable customers, merchants and businesses to move digital value — traditional or crypto — however they want. It should be your choice, it’s your money.”

BNY Mellon, the oldest bank in the U.S. revealed their Bitcoin and crypto plan, trialling a platform for allowing cryptocurrencies transactions to use the same system as stocks and bonds.

These are the core reason and confident push for Bitcoin. Corporations are making their commitment for this coin.

Pomp has also reminded all that $1 trillion mark is next.

$1 trillion is next.

— Pomp 🌪 (@APompliano) February 12, 2021

Bitcoin price remained in a bullish zone above the $45,000 support against the US Dollar. BTC is eyeing a fresh rally above the $48,000 and $50,000 resistance levels in the near term.

This past week, bitcoin price made an attempt to test the $50,000 level against the US Dollar. The BTC/USD pair broke the $48,000 resistance, but there was a lack in momentum.

A new all-time high was formed near $48,700 before the price started a downside correction. There was a break below the $47,000 support. The price traded below the 23.6% Fib retracement level of the upward move from the $43,773 swing low to $48,700 high.

Bitcoin price is now trading nicely above the $45,000 level and the 100 simple moving average (4-hours). On the downside, there is a decent support forming near the $46,000 level.

There is also a major bullish trend line forming with support near $46,000 on the 4-hours chart of the BTC/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $43,773 swing low to $48,700 high.

On the upside, the $48,000 and $48,500 levels are important hurdles. A clear break above the $48,000 level is likely to increase the chances of a surge above the $50,000 level in the coming sessions.

If bitcoin struggles to clear the $48,000 resistance level, there are chances of a downside correction. The first major support is near the trend line and $46,000.

The next major support is near the $45,000 level. If there is a clear break and close below the $45,000 support, the price could decline 5%-10%. The next major support on the downside is near the $41,000 level.

Technical indicators

4 hours MACD – The MACD for BTC/USD is likely to gain strength in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is still above the 50 level.

Major Support Level – $46,000

Major Resistance Level – $48,000

The crypto industry was seen trying to recover from its latest setback. Cardano [ADA] as well as Polkadot [DOT] seemed to be least affected by the latest crash. Almost all the assets in the crypto industry were seen bleeding. Bitcoin, during the time of writing, was seen swinging through the $49K to $50K zone. Polkadot, unlike all the other assets, hadn’t recorded major losses. XRP had, however, slumped down to the seventh position and retained its price above $0.45 despite the recent crash. Additionally, the overall crypto market cap was noted at $1.51 trillion, during press time.

Cardano, at the time of writing, was seen trading for $0.987, with a 3.25% drop in the last 24-hours. The altcoin had surged to a high of $1.02, just yesterday while all the other assets were seen slumping. These numbers affirmed that ADA was trying to make its way to its previous all-time high of $1.33, which it achieved about three years ago.

The one-hour price chart of ADA announced that the bulls were hibernating in its market. The Parabolic SAR indicator had formed a line of support below the candlesticks which diminished the chances of a downward breakout. The MACD indicator retained the bullish crossover that it had formed yesterday. The Relative Strength Index indicator was exhibiting a neutral notion in the market with no major buying or selling activity.

The altcoin’s one-day price chart partially mirrored the short-term price chart of ADA. The Awesome Oscillator indicator, however, was delivering a bearish momentum with the formation of red closing bars. The Chaikin Money Flow index was sky high as it was over zero and has been around the same region for a while now. The Money Flow Index indciator announced that a buyers’ sentiment was still intact in the ADA market.

Bitcoin (BTC) leads the market again, after setting a new all-time high. Binance Coin and others found new strength after a brief cool-off yesterday.

At press time, Bitcoin (BTC) is above the $58,000 mark for the first time in the top cryptocurrency’s decade-long history.

The rally to the new all-time high solidifies a week of impressive performance from BTC. The coin has seen over 30% gains since Monday.

As is now widely accepted in the market, the bulls are firmly in control, with the next significant level for BTC being the $60,000 mark.

Indeed, last week’s top-performing alts are also experiencing the “pull-up” effect of the top cryptocurrency. After settling down yesterday, Binance Coin (BNB), is back above $300 at press time, after dipping to the low $250s.

Moreover, the newly-famous alternative to the Ethereum-based Uniswap, PancakeSwap (CAKE), is on its way back to the $20 levels.

In fact, the strong performance comes as the total value of the cryptocurrency market (as measured by the global market capitalization), sits at just under $1.8 trillion at press time.

Crypto-bulls are confident that at some point next week, the $2 trillion level will be surpassed.

Accordingly, traders and investors alike are re-balancing their portfolios to reflect the high-performing altcoin market. As reported earlier, Tether (USDT) lost three places in terms of market capitalization rankings as investors opted for BNB, Polkadot (DOT), and Cardano (ADA) instead of stability.

This is despite Tether minting record amounts of the stablecoin in recent months.

Moreover, although the market is optimistic, there is reason to believe the euphoria stage has not yet kicked in as traders choose to buy cryptocurrencies outright instead of using leverage.

This suggests they plan to “hodl” for the long run.

In other news, YouTube star Logan Paul released his own non-fungible tokens (NFTs) this weekend. In just one day, the star raised over $3.5 million in an auction held on the NFT marketplace Bondly.

As Ripple Labs prepares for its first hearing tomorrow, it was revealed that former U.S. Securities and Exchange Commission (SEC) head Mary Jo White will represent the company and its executives in the case.

In an interview with Fortune Magazine, the former head called the SEC decision to bring charges against the decentralized payments processing company “dead wrong”.

In Canada, analysts expect several newly launched BTC ETFs to attract even more investment than they did in just two days.

So on the whole, the market is looking at a bright week ahead.

Emmanuel entered the cryptocurrency space in 2013 as a cryptocurrency broker. He is a crypto-enthusiast, entrepreneur, and investor, who has built and led several projects and communities in the space. He is CEO and co-founder of Provence Intelligence, a boutique crypto-consultancy firm that aims to bridge the gap between the cryptocurrency and DLT space and the traditional world. Interests include DeFi, non-blockchain DLTs, and the synthetic derivatives space.

In a swift move, Bitcoin (BTC) skyrocketed another 4% today with its price touching a new all-time high of $49,200. With this, the Bitcoin (BTC) price has surged 25% just in a week’s time as the major rally comes post Tesla’s $1.5 Bitcoin (BTC) purchase.

However, at this stage breaking $50,000 levels doesn’t seem easy as data from CryptoQuant suggests that the Coinbase Premium has turned negative to -$45. It means that there’s a net spot selling pressure on Coinbase in comparison to other exchanges like Binance/Huobi/OKEx.

Thus, making any fresh entries won’t be suggested at this stage and the BTC price is most likely to to see a downward momentum going ahead.

No more Coinbase premium compared to Binance/Huobi/OKEx. Be careful. pic.twitter.com/MEJ3FEgUqS

— Ki Young Ju 주기영 (@ki_young_ju) February 14, 2021

The Coinbase Premium is an important metric as most of the institutional buying happens on Coinbase via OTC deals. Even the word’s biggest Bitcoin fund – Grayscale Bitcoin Trust (GBTC) – make purchases on Coinbase. GBTC has accumulated ~50,000 Bitcoins (BTC) so far in 2021 out sizing asset management giants like ARK investments.

With the recent price rally, on-chain data provider Santiment states that crypto Twitter has turned out more positive than ever before on Bitcoin (BTC). However, it’s still not reached the euphoric stage.

— Santiment (@santimentfeed) February 14, 2021

As things turn out to be, the Bitcoin journey has been nothing less than phenomenal this year. The BTC price is up 66% year-to-date in just the first 45 days of 2021.

Post Tesla’s entry, there have been a slew of announcements coming from big corporate players like Twitter, Uber, and other warming up to it. Interestingly, traditional financial institutions BNY Mellow, JPMorgan, and many other have also warmed up to Bitcoin.

In the latest development, a $150 billion investment arm of Morgan Stanley is seeking exposure to Bitcoin (BTC). Morgan Stanley’s own Counterpoint Global is seeking exposure into Bitcoin, as per the Bloomberg report.

On the other hand, lawmakers from some big cities are also warming up to Bitcoin (BTC). Miami’s mayor has been seeking legislation to invest part of the city’s treasury in Bitcoin as well as pay salaries in BTC. Interestingly, the Central Bank of Kenya is also planning to use Bitcoin as a reserve currency.

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

Bitcoin (BTC) hit a new all-time high on February 11 as it broke $48,678, growing over 5% in 24 hours after news broke about Mastercard’s plans to accept crypto as payment for its 30+ million merchants, and that the oldest bank in the US will launch custody services for Bitcoin.

Mastercard has announced that close to 1 billion of their users will soon be able to spend selected cryptocurrencies at more than 30 million merchants worldwide.

The process will reportedly be quite simple: When a customer wants to buy an item or good with crypto, Mastercard's partners will convert the cryptocurrency in question into local currency and then transmit them over Mastercard's network.

Although Mastercard has yet to announce which cryptos will be available to use to purchase with, the firm is likely to follow other similar examples who have added Bitcoin, Ethereum and other top cryptocurrencies as a payment option.

Mastercard currently holds over 89 blockchain patents with an additional 285 applications pending, so the company is no stranger to the Research and Development side of crypto, although this latest move further cements Mastercard’s openness to embrace digital assets for its massive user base and extensive merchant network.

The news comes just two days after it was revealed that Tesla is planning to accept Bitcoin as a form of payment for their products, laying the groundwork for a potential paradigm shift as more companies are set to follow Tesla’s lead in accepting BTC and other crypto as payment.

Bank of New York Mellon, America’s oldest bank, announced plans on February 11 to hold, transfer and issue Bitcoin and other cryptos as an asset manager on behalf of its customers.

An executive of BNY Mellon stated that “digital assets are becoming part of the mainstream.” The bank is set to commence offering custody services for BTC and other digital assets as early as this year.

For each new day that passess, another major multinational company or prominent corporate entity is publicly expressing their intent to enter, or announcing their entry, into Bitcoin and the crypto market as a whole, often as a hedge against USD inflation.

The crypto market is currently at an all-time high in total market capitalization, amounting to roughly $1.44 trillion. However, given the maturing nature of the blockchain space over the past four years and the wide range of financial services now offered from crypto companies worldwide, we are only just getting started in terms of growth, reach and global impact as an industry.

Misha Lederman

Director of Communications at Klever.io

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Please can someone reach out to Nigerian government, they've prohibited bitcoin transactions.

These ignorant people are messing up our economy.

We need help😭😭😭😭😭

Great news 👌

Ethereum extended its rise and traded to a new all-time high at $1,830 against the US Dollar. ETH price is trading in a positive zone and it looks set for more gains towards $1,900.

After spiking above the $1,800 level, Ethereum started a short-term downside correction (similar to bitcoin). ETH corrected below $1,760, but it remained stable above $1,720.

As a result, there was a fresh increase above the $1,800 level. Ether price even traded to a new all-time high near $1,830 and settled well above the 100 hourly simple moving average. It is now showing positive signs above the $1,800 level.

An initial support is near the $1,790 level. It is close to the 50% Fib retracement level of the recent wave from the $1,755 swing low to $1,830 high. There is also a major ascending channel forming with support near $1,760 on the hourly chart of ETH/USD.

An intermediate support is near the $1,770 level. It coincides with the 76.4% Fib retracement level of the recent wave from the $1,755 swing low to $1,830 high.

On the upside, the price is facing resistance near the $1,830 and $1,850 levels. A proper break above $1,850 might start a steady increase above $1,880. In the stated case, the price may even break the $1,900 level and continue higher towards the $1,950 level.

If Ethereum fails to clear the $1,830 and $1,850 resistance levels, it could correct lower. On the downside, the first major support is near the $1,770 level.

The next major support is near the channel support at $1,760. Any more losses may possibly lead the price towards the $1,700 level and the 100 hourly simple moving average.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is still well above the 50 level.

Major Support Level – $1,760

Major Resistance Level – $1,850