Here is how stablecoins on-chain activity can help time Bitcoin price action
Bitcoin price action has been ambiguous for a long time. However, with the introduction of multiple on-chain metrics, traders and investors can now understand why Bitcoin makes certain moves. This is imperative mostly after Bitcoin retraced from the recent spike above $38,000. Meanwhile, support at $32,000 stood its ground, sending Bitcoin above $33,500. Read more…
XRP pumps towards $1, as the Bitcoin rally cools off
In the last 48 hours, Ripple has led the rally in the cryptocurrency market, hitting highs of $0.822 for the first time in 2021. The upswing took place after Bitcoin cooled off from Friday’s upswing, in what was referred to as the ‘Elon Musk pumping effect’. Read more…
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UNI on-chain metrics spell trouble following a 300% bull rally
The parabolic surge in Uniswap price could be coming to an end as a confluence of technical and fundamental indicators suggest a pullback on the cards. An increasing price coupled with decreasing volume and rising retail chatter hint that Fear Of Missing Out [FOMO] is at its peak, which usually leads to a price drop. Read more…
