Altcoins rally as bulls pile into large-cap tokens and layer-1 projects

The cryptocurrency market provides investors with another day of ‘altseason’ as the majority of altcoins in the top 100 on CoinMarketCap rallied today. Several large-cap tokens reached multi-year highs and this all took place as Bitcoin (BTC) price struggles to hold any of the news-event-driven gains that it has accrued throughout the week.  One of the most notable performances has been put on by Ethereum Classic (ETC), the “unaltered” Ethereum (ETH) fork that has been gaining traction over the past week as its dedication to a proof-of-work consensus mechanism attracts…

BakerySwap, Syscoin and Utrust rally as altcoin season kicks into high gear

Bitcoin’s (BTC) institutional adoption shows no signs of slowing down. This week Latin America’s largest e-commerce company, Mercado Libre, disclosed that it had purchased $7.8 million worth of Bitcoin as part of its treasury strategy.  Mercado Libre was not only in this decision, as Metromile Inc., a Nasdaq-listed digital insurer also said it plans to buy $10 million worth of Bitcoin in the second quarter of this year. Additionally, Metromile will soon start accepting premiums and paying out insurance claims in Bitcoin. Crypto market data daily view. Source: Coin360 Data from Glassnode…

Ethereum Corrects Gains, Here’s What Could Trigger Fresh Rally

Ethereum extended its rally and it traded to a new all-time high above $3,520 against the US Dollar. ETH price is correcting gains, but it is likely to start a fresh rally above $3,400. Ethereum extended its rally above $3,500 and it traded to a new all-time high near $3,525. The price is now trading well above $3,200 and the 100 hourly simple moving average. There is a crucial breakout pattern forming with support near $3,260 on the hourly chart of ETH/USD (data feed via Kraken). The pair could either…

Ethereum Rally Extends Above $3,400, Why Dips Remain Attractive

Ethereum extended its rally and it traded to a new all-time high above $3,450 against the US Dollar. ETH price is correcting gains, but it is likely to remain well bid above $3,100. Ethereum remained in a strong uptrend and it broke the $3,400 level. The price is now trading well above $3,200 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $3,220 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct lower, but the bulls…

Glassnode predicts BTC rally as stablecoin supply tags record highs

The circulating supply of the four-largest stablecoins has spiked to new all-time highs, suggesting buyers could soon spark another leg up for the Bitcoin and crypto markets. The combined capitalization of Tether (USDT), USD Coin (USDC), Binance USD (BUSD), and Dai (DAI) has surged almost 190% from $27 billion to almost $78 billion since the beginning of this year. In its May 3 Week on Chain report, on-chain analytics provider, Glassnode, noted that Tether is firmly positioned as the stable token sector’s leader, representing two-thirds of the top four stablecoins’…

Ethereum Surges Above $3K, Here’s Why Rally Isn’t Over Yet

Ethereum extended its rally and it traded to a new all-time high above $3,000 against the US Dollar. ETH price is showing signs of more upsides towards $3,100 and $3,150. Ethereum remained well supported above $2,800 and it broke the $3,000 level. The price is now trading well above $3,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,990 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct lower, but the bulls are likely to…

Bitcoin Gains Momentum, Here’s What Could Spark A Major Rally

Bitcoin price gained momentum and settled above the $57,000 level against the US Dollar. BTC is likely to break the $58,500 resistance and start a strong rally. Bitcoin started a steady increase and it broke the $56,500 resistance zone. The price is now trading well above the $56,000 level and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $56,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong rally if it clears…

Altseason indicator flips to Bitcoin even as Rally and Polygon surge

Crypto investors are scratching their heads this week, as a key indicator suggests that Bitcoin is about to take center-stage once more — even as Cointelegraph Markets Pro subscribers had the opportunity to take major profits on altcoins such as Rally (RLY), Polygon (MATIC) and Ampleforth (AMPL). Since Markets Pro was launched in January, the Altseason Analysis indicator has leaned heavily toward altcoins — and indeed, the performance of an evenly-weighted basket of the Top 100 altcoins has strongly outperformed holding Bitcoin since Markets Pro began tracking these metrics on…

Bitcoin bulls attack $57,000 and altcoins rally as April comes to a close

Bitcoin (BTC) and the overall cryptocurrency market sprang to life on April 30 as an uneventful close to this month’s $4.2 billion options expiry occurred without any signs of controversy.  Data from Cointelegraph Markets and TradingView shows that after a brief dip below the $53,000 support level on April 29, the price of Bitcoin staged a 10% rally back above $57,400 by midday. BTC/USDT 4-hour chart. Source: TradingView The revelation from MicroStrategy CEO Michael Saylor that the company saw a 52% surge in revenue compared to the same quarter last…

ABBC Coin, AAVE and Fantom (FTM) rally higher after partnership announcements

On April 29 Ether’s (ETH) price rose to another all-time high, boosting its market capitalization to over $320 billion. With the recent rally, Ether’s market cap has overtaken platinum and PayPal to become the 32nd most valuable asset in the world, according to data from CompaniesMarketCap. Ether’s market dominance has risen from 10.79% at the start of the year to 15.4% currently, whereas Bitcoin’s (BTC) market cap has dropped from over 70% to 48.2% during the same period. Crypto market data daily view. Source: Coin360 To cater to the growing popularity…