Ether hits new all-time high above $2,200 hours ahead of Berlin hard fork

Ether (ETH) surged to a new all-time high on Tuesday, with the next major update in its ongoing development — dubbed “Berlin” — scheduled for Wednesday, April 14. Ether’s price reached $2,228 on Tuesday, marking the highest dollar valuation the coin has achieved since its conception. The coin’s market capitalization exceeded $250 billion for the first time. For context, the market cap of Bitcoin (BTC) was at the same level just six months ago, in late October 2020. Ether’s 1,328% growth over the past year persisted despite major concerns regarding…

Bitcoin bulls are confident even as a key BTC price metric hits a new low

Newer traders might be unaware of this, but investors can also borrow BTC to margin trade a short position, thus betting on the price downside. This is why some analysts monitor the BTC, and USDT total lending amounts to gain insight into whether investors are leaning bullish or bearish. Interestingly, data shows that even as Bitcoin price aims for a new all-time high, the BTC to USDT borrow ratio reached its lowest level since Nov. 20 at OKEx. While this figure still favors bulls, it raises questions about what catalysts…

Bitcoin suddenly hits $60K as a new resistance battle liquidates $850M

Bitcoin (BTC) returned to $60,000 on April 10 as a bout of long overdue volatility hit the market in line with analysts’ expectations. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview “Being a bear is expensive” Cointelegraph Markets Pro and TradingView showed a sudden push allowing BTC/USD to exit the $50,000 corridor overnight on Friday. The move had been weeks in the making — a convincing attack on $60,000 resistance, the last before all-time highs, had previously failed to materialize before. Bitcoin is about to Bitcoin. ⤴️ $BTC pic.twitter.com/8IY19LdtmB — Alex…

Coinbase’s first quarter revenue hits record $1.8B ahead of its Nasdaq listing

Coinbase has announced impressive first quarter results one week before the exchange’s direct listing on the Nasdaq, estimating that trading volume is up 276% and quarterly revenue has hit $1.8 billion. The bountiful revenue, revealed in the company’s Q1 earnings call, dwarf its $190 million revenue from the same time last year with the company attributing a portion of this explosive growth to Bitcoin’s bull market. The U.S exchange estimated net income between $730 million and $800 million and an EBIDTA of approximately $1.1 billion. The bull market has also…

Polkadot futures open interest hits $1B as DOT price reaches a new ATH

On March 24, the price of Polkadot’s DOT token corrected by 23% in a brief six-hour period, resulting in $174 million in liquidations across the futures market. This swift downside move also cut the aggregate open interest by 26%. Now that DOT’s open interest is climbing to a new record high at $1 billion, investors may be worried that another price crash is on the way. DOT/USDT on Binance. Source: TradingView Although the event severely hurt leveraged longs at the time, the token managed to rally 46% in 10 days, reaching an…

Cryptocurrency market cap hits $2 trillion — Now worth as much as Apple

The market capitalizations of all cryptocurrencies in existence surpassed $2 trillion on April 5, according to data from Goingecko, led by the impressive growth of Bitcoin (BTC), Ether (ETH) and other altcoins in 2021. The cryptocurrency market as a whole has become approximately as valuable as Apple, the second biggest company in the world after Saudi Arabia’s oil giant Aramco. The milestone also comes less than three months after the cryptocurrency market surpassed $1 trillion for the first time back on Jan. 7 when the price of Bitcoin was around…

Kimchi premium hits 11% — Is Bitcoin now in a 2017-esque retail stage of the cycle?

The price of Bitcoin (BTC) is continuing to range between $56,000 and $60,000, as the so-called “Kimchi premium” is surging to yearly highs. Kimchi premium forms when Bitcoin is trading at a higher price in South Korea over other major markets like the United States. In 2017, the Kimchi premium surpassed 20%, causing Bitcoin to trade at around $24,000 in South Korea while it topped at nearly $20,000 in the U.S. Korea Premium Index. Source: CryptoQuant.com Last week, on March 29, this premium resurfaced, hovering at 6%, which has since climbed…

Filecoin market cap hits $450B after FIL price rallies above $230

The fully diluted valuation of Filecoin (FIL), a digital payment and cryptocurrency system built on top of the InterPlanetary File System (IPFS), has reached $450 billion. Filecoin is a blockchain that enables users to rent unused hard drive space to store and retrieve data. Its model is similar to Snowflake, which completed the biggest software IPO in history in September 2020. If you’re excited about Snowflake, just wait until you learn about Filecoin — Barry Silbert (@BarrySilbert) September 16, 2020 A combination of three factors likely led the price of…

Bitcoin futures premium hits 30% but analyst says ‘This time it’s different’

March 30 could become a historical day that will be remembered by Bitcoin (BTC) fans for a long time. Besides marking a 17% recovery from the $50,300 bottom on March 25, PayPal officially confirmed that it will support crypto payments for U.S. customers. Moreover, CME Group announced that its Micro Bitcoin futures contracts will launch on May 3 with the contract size starting at 0.1 BTC each.  Additional bullish news came as Morning Brew, a daily business newsletter with 2.5 million subscribers, finally dropped gold and is now exhibiting Bitcoin…

When ‘alt season?’ Now, says analyst as Bitcoin dominance hits 6-month low

Bitcoin (BTC) now accounts for less than 60% of the total cryptocurrency market capitalization, heralding the arrival of “alt season 2.0.” In a tweet on March 29, analyst Filbfilb, co-founder of trading suite Decentrader, announced that conditions were finally right for a fresh altcoin surge as their total market capitalization is hitting new highs of nearly $750 billion. Altcoin market capitalization. Source: CoinMarketCap Bitcoin dominance at its lowest since October 2020 Highlighting the current BTC/USD spot price, the combined altcoin market cap in U.S. dollars and Bitcoin’s market cap dominance,…