Bitcoin CME Leveraged Funds Shorts at Lowest Since 2020- CoinDesk


CoinDesk 06 July, 2021 - 02:58pm 67 views

When is ETH London hard fork?

Ethereum's long-awaited London hard fork is likely to launch on Aug. 4 between 13:00 UTC (9 a.m. ET) and 17:00 UTC, with block 12,965,000. Many Ethereum enthusiasts are excited for the delayed release, while some are watching on with “cautious optimism.” Yahoo FinanceEthereum’s London Hard Fork Expected to Launch on Aug. 4

Price analysis 7/6: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, BCH, LTC

Cointelegraph 06 July, 2021 - 06:17pm

Altcoins continue to move higher as Bitcoin trades in a predictable range but it’s still too early to know if the market is flashing any strong buy signals.

However, Bitcoin has successfully held the $30,000 support for two weeks, which suggests that accumulation is taking place at lower levels. The Crypto Fear and Greed Index rose to 29 on July 5, its highest level in about three weeks. This suggests that aggressive investors may have started bottom fishing.

If bulls successfully hold the $30,000 level in Bitcoin for a few more days, trading interest is likely to increase further. Institutional investors usually do not buy in a falling market and wait until prices stabilize. Once that happens, the volume is likely to pick up and a stronger recovery may be expected.

However, if support levels crack, the sentiment will sour further and institutions may prefer to remain on the sidelines until a bottom is confirmed. Let’s analyze the charts of the top-10 cryptocurrencies and spot the critical support levels on the downside.

The bulls pushed Bitcoin above the 20-day exponential moving average ($34,851) on July 4 but they could not clear the hurdle at the 50-day simple moving average ($36,338). This suggests that bears continue to sell on rallies.

If the price sustains below the 20-day EMA going forward, the bears will try to pull the BTC/USDT pair to the $31,000 support. The flat 20-day EMA and the relative strength index (RSI) just below the midpoint signal that there is a balance between supply and demand.

This balance will shift in favor of the bears if they can sink the price below $31,000. That could result in a drop to the $28,000 support. If this level cracks, the pair could witness panic selling.

Conversely, if the price rises from the current level or rebounds off $31,000, the bulls will make one more attempt to clear the overhead hurdle at $36,670. If they manage to do that, the pair may rally to the overhead resistance zone at $41,330 to $42,451.67.

Ether (ETH) is stuck between the moving averages. This shows that bears are attempting to defend the 50-day SMA ($2,410) and the bulls are trying to sustain the price above the 20-day EMA ($2,196).

However, this tight-range trading is unlikely to continue for long. If bulls push the price above the 50-day SMA, the ETH/USDT pair could rally to the downtrend line. This level may again act as a resistance but if crossed, the next stop could be $2,990.05.

Conversely, if bears sink the price below the 20-day EMA, the pair could drop to $2,000. This is an important support because a break below it will invalidate the short-term bullish view. The pair may then slide to the critical support at $1,728.74.

The flat 20-day EMA and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears.

Binance Coin (BNB) is facing stiff resistance at the 20-day EMA ($308) but the positive sign is that the bulls are not giving up much ground. This suggests that buyers anticipate the altcoin to make an upward dash.

If bulls thrust the price above the 20-day EMA, the BNB/USDT pair could rise to the 50-day SMA ($341). The bears may try to stall the recovery at this resistance but if the bulls can absorb the supply, the pair could start its journey to $433.

Contrary to this assumption, if the bulls fail to push the price above the 20-day EMA, short-term traders may close their positions. If the pair breaks below $264.26, a retest of the support at $211.70 may be on the cards.

Cardano (ADA) broke above the 20-day EMA ($1.39) on July 3 but the bulls could not drive the price above the 50-day SMA ($1.51). This suggests that bears are in no mood to relent and they continue to sell on rallies.

If the bears sink the price below the 20-day EMA, the traders who bought during the recent relief rally may bail out of their positions. This could pull the price down to $1.20. If the price rebounds off this level, the bulls will make one more attempt to clear the hurdle at the 50-day SMA.

If they succeed, the ADA/USDT pair could start its journey toward $1.94. Conversely, if bears sink the price below $1.20, the pair could retest the critical support at $1. A break below this level will be a huge negative and may start a new downtrend.

Dogecoin (DOGE) had been trading near the 20-day EMA ($0.26) for the past few days but the bulls could not push the price above it. This suggests that bears aggressively defended this resistance.

The bulls seem to have given up and are closing their position today. If the bears sink the price below $0.21, the selling could intensify further and the DOGE/USDT pair may retest the critical support at $0.15.

The gradually downsloping moving averages and the RSI below 41 indicate advantage to the bears. The selling could pick up momentum below $0.15, which could result in a drop to $0.10.

This negative view will invalidate if the price rebounds off $0.21 and breaks above the 20-day EMA.

In a downtrend, the bears aggressively defend the 20-day EMA ($0.70) and that is what has happened in XRP. Even after repeated attempts in the past few days, the bulls could not propel the price above the 20-day EMA.

The downsloping moving averages and the RSI below 42 suggest that bears are in command. If bears sink the price below $0.63, XRP/USDT pair could drop to $0.58 and then to the critical support at $0.50.

This bearish view will be negated if the price rebounds off the support and rises above the 20-day EMA. Such a move will clear the path for a rally to the 50-day SMA where the bears may again pose a stiff challenge.

Polkadot (DOT) has been trading in a tight range between $13 and $16.93 for the past few days. A tight consolidation near the support is a negative sign as it shows that the bulls are not able to overcome the supply and push the price higher.

Both moving averages are sloping down and the RSI has turned down from 41, suggesting that bears are in control. If the sellers sink the price below $13, the DOT/USDT pair could witness sharp selling, which may pull the price down to $10 and then $7.50.

On the contrary, if the bulls again defend the $13 support, the pair could extend its stay inside the tight range for a few more days. A breakout and close above $16.93 will be the first indication that demand exceeds supply.

Uniswap (UNI) broke above the 20-day EMA ($19.53) on July 4 but the bulls are struggling to sustain the price above it. This suggests that bears are trying to trap the aggressive bulls.

However, the flattening 20-day EMA and the RSI just below the midpoint indicate that the selling pressure is reducing. If the bulls do not allow the price to sustain below the 20-day EMA, it will suggest that the sentiment has turned positive and the buyers are accumulating on dips.

That will increase the possibility of a break above the 50-day SMA ($22.65). If that happens, the UNI/USDT pair could start its northward march to $25 and then $27. Contrary to this assumption, if the price breaks below $16.93, the pair may drop to $15.

Related: Stablecoin growth could affect credit markets, rating agency warns

Even after repeated attempts in the past few days, the bulls have not been able to push Bitcoin Cash (BCH) above the overhead resistance at $538.11. This suggests that bears are unwilling to let go of their advantage.

The 20-day EMA ($526) has started to turn down and the RSI has slipped below 43, suggesting the path of least resistance is to the downside.

The sellers will now try to pull the price below the immediate support at $475.69. If they succeed, the BCH/USDT pair could drop to $428.43 and then to $370.

This negative view will be nullified if the price turns up from the current level or rebounds off the support and rises above $538.11. If that happens, the pair could extend its relief rally to $650.35 and then to $735.53.

The bulls could not push Litecoin (LTC) above the 20-day EMA ($144) on July 4, which suggests that bears are aggressively defending this resistance.

The price has turned down from the 20-day EMA today. If bears pull the price below $130.60, the LTC/USDT pair could retest the critical support at $118. If this level also breaks down, the pair will complete a descending triangle pattern, opening the doors for a down move to $100 and then $70.

This bearish view will be invalidated if the price turns up from the current level or rebounds off the support and breaks above the downtrend line of the triangle. Such a move could create an opening for an up-move to $200.

Ethereum Exchange Reserves Plummet To More Than Two-Year Low 06 July, 2021 - 06:17pm

Ethereum exchange reserves have now hit a new low for the first time in over two years. According to CryptoQuant, this number has plummeted from 26 million from June last year to less than 21 million by July 2021. This seems to be in tandem with the increase in the price of Ethereum. Over the months, as the price of ETH has gone up, the exchange reserves have continuously gone down.

With the announcement of ETH 2.0 came the ability for investors to stake their coins and get returns on them. Ethereum moving from proof of work to proof of stake meant that the network would not need validators. Validators are the medium of confirming transactions on a proof of stake network. This means that people could conveniently run their own node.

Interestingly, it only takes 32 Ethereum coins to be able to run your own node and be a validator. Given this, more and more investors are taking the option of staking themselves. This method is meant to be safer since you have access to your own private keys while staking. As long as you know what you are doing and do it correctly.

This has meant that users are now taking their coins out of exchanges and putting them in their own private wallets. As long as they have enough coins, they can set up their own nodes and can staking their ETH on their own terms.

This leaves only the investors with a lesser amount of coins leaving their coins on exchanges. The exchanges have collectively lost over 5 million coins from their reserves in a year. And it is expected that this number will likely continue as more investors get into staking.

A staggering 6 million ETH has now being staked in ETH 2.0. The number of validators in the network has now surpassed 179,000 and counting.

There’s a popular saying amongst crypto investors. “Not your keys, not your coins.” This saying did not just sprout out of nothing. Your coins on exchanges are technically not yours because you do not hold the keys to the coins.

This means that if something were to happen on the exchange, you would be out of luck as attackers would be able to assess your coins. This is why long-term holders do not leave coins on exchanges. Coins are only left on exchanges to be traded with or used in the short term. Investors transferring their Ethereum coins to wallets they control could account for some of the drops in exchange reserves.

Wallets like Ledgers give you seed phrases when you first get a wallet. Users can write their seeds down and they are the only ones that can access them.

Over 24,000 users lost at least 650,000 bitcoins in the Mt. Gox attack back in 2014. No one affected was ever able to get back their coins.

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What to do when your digital assets take a dive

MarketWatch 06 July, 2021 - 06:17pm

But after the spot price of bitcoin, the most popular coin, approached $65,000 in April, the boom turned bust: By early June, its value had dropped by nearly 50%. It’s likely that many of those new crypto investors felt the whiplash.

“It is very interesting that every time that bitcoin goes up, it gains all the hype, people get excited,” says Kiana Danial, author of “Cryptocurrency Investing For Dummies.” But Danial adds that the last person who buys when the price is at the top “is the person who’s going to panic when the price inevitably drops.”

Read: From ‘Death Cross’ to a Near Bull Market: Bitcoin’s Wild Ride

So, what do you do when your digital assets like bitcoin crash? We asked several cryptocurrency experts to get their thoughts.

For those who have been investing in cryptocurrencies for years, dramatic gains and losses are nothing new. For example, bitcoin recorded a previous record high of nearly $20,000 in December 2017, but by December 2018 was trading below $3,500.

As bitcoin gains adoption, “the up moves and down moves can be breathtaking. Taking the long-term view puts these moves in perspective,” says Greg King, founder and CEO of Osprey Funds, an investment firm specializing in digital assets.

For seasoned bitcoin investors, the lower prices were welcome. “Then, you would actually see the drop of value in bitcoin as an opportunity to purchase,” Danial says.

See: Robinhood IPO filing reveals dogecoin as one of its biggest risk factors

When crypto is crashing, someone who’s been intrigued from the sideline might think this is the time to get in and “buy low.” But King recommends asking yourself two questions before deciding to invest in bitcoin or other cryptos.

“Consider whether an 80% to 90% down move in your crypto holdings would cause you to lose sleep at night or sell,” he says. “If the answer to either of those is yes, don’t invest.”

“Any asset has ups and downs — cryptocurrency has more ups and downs because of the amount of hype and FOMO involved,” Danial adds, alluding to a fear of missing out, “and the fact that people actually don’t know what it is. They buy it because they heard somebody talk about it … they are taking unmeasured risks.

“Ask yourself what amount of money you can actually afford to lose, because any investment has inherent risk,” she says. “If you are selecting your assets wisely and you have concrete reasons why you’re investing in it, you shouldn’t be swayed when the markets drop, and you will stay the course.”

Crypto experts suggest refraining from “all in” moves when deciding to invest. “Avoid buying large amounts of cryptocurrency all in one shot,” says Jake Yocom-Piatt, co-founder of Decred, a cryptocurrency with a $1.5 billion market share. “If you buy a whole bunch at once and the price drops, psychologically that’s very difficult for people.”

Learn more: 10 rules every new crypto trader should obey so you don’t lose your shirt

Instead, he suggests considering a common strategy from investing in stock markets: dollar-cost averaging. “Buy a small amount every month and then just keep doing it, as the price goes up or the price goes down, as opposed to buying it all in this one single crystalized cost which you’re going to have to deal with psychologically for the foreseeable future.”

Personal finance experts often say that any single asset, be it a specific coin or company’s stock or something else, should only be the sprinkling atop the parfait of an otherwise vanilla portfolio of stocks, bonds and mutual funds that mean to help you achieve your long-term financial goals.

“If crypto is the only asset you are investing in, you are probably taking on way too much risk,” Danial says.

‘I have not donated money to anyone or any organization. I also do not believe in loaning money to friends and relatives, no matter what.'

Bullish? Bitcoin Outflows From Spot Exchanges Reached a Yearly High: Analysis

CryptoPotato 06 July, 2021 - 06:17pm

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Investors have changed their tunes on BTC as the deposits to spot exchanges have declined with the withdrawals reached a yearly high.

Bitcoin investors have halted depositing their assets onto cryptocurrency exchanges and have actually started to withdraw substantial quantities, says on-chain data. Furthermore, it showed that most of the withdrawals came from retail investors, but whales and institutions have also accumulated BTC lately.

Data from CryptoQuant highlighted the recent trends in terms of BTC investors’ withdrawals and deposits from and to cryptocurrency exchanges.

Somewhat expectedly, their behavior has a lot to do with price movements as well. Generally, holders send their coins from cold wallets to trading venues when they intend to sell and transfer them back when they plan to HODL for a more extended period.

As such, the deposits skyrocketed to new highs in mid-May following the FUD prompted by Elon Musk and China. At that point, the price of bitcoin had already started to retrace, but it fell by another $20,000 to around $30,000.

As the dust settled, most investors reduced their deposits, but it seems they had a complete change of mind lately, as the graph below demonstrates.

At the same time, the number of withdrawals has surged now, suggesting that investors could be looking to HODL their coins now instead of panic selling as it happened in May.

Interestingly, the analytics company also asserted that “a majority of outflow transaction counts (5,800) were from Gate_io,” and all of them came from retail investors because of their relatively small size (less than one BTC).

Apart from smaller investors purchasing and withdrawing bitcoins from exchanges, other recent reports indicated that the so-called whales have started doing the same as well.

After a short pause and even sell-off in June, wallets containing between 100 and 10,000 bitcoins accumulated roughly 60,000 coins in just one day at the start of July. As a result, their total stash increased to more than nine million BTC.

The demand for Canada’s first Bitcoin ETF also urged the company behind it – Purpose Investments – to buy sizeable portions of the asset. CryptoPotato reported recently that its holdings increased by 30% in a few weeks, and the Purpose BTC ETF had roughly 22,500 coins.

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Market Wrap: Bitcoin Consolidates Amid China Crackdown - CoinDesk

CoinDesk 06 July, 2021 - 06:17pm

China’s announcement preceded choppy price moves around $34,000, which left traders with little sense of direction.

Bitcoin traded sideways on Tuesday as market participants digested the latest regulatory crackdown from China. On Monday, the People’s Bank of China (PBOC) reiterated its long-held anti-crypto stance, warning institutions against providing services to crypto-related companies. 

China’s announcement preceded choppy price moves around $34,000, which left traders with little sense of direction. Bitcoin trading remains in a tight range and the price is down about 6% over the past week.

“Our strategists continue to expect a 6%-10% correction in U.S. equities this summer given that growth indicators are peaking, as well as a further sell-off in U.S. Treasurys that will see 10-year yields hit 2.25% by year end,” according to a Deutsche Bank report published on Tuesday.

For now, risky assets are still supported by accomodative monetary policy. For example, last week, European Central Bank (ECB) executive board member Isabel Schnabel pledged to do whatever it takes to support an economic recovery, according to a Bloomberg report. Schnabel also warned governments not to end fiscal stimulus too early. 

“Retail investors are increasingly confident in the potential of crypto assets, despite this quarter’s market correction, with new eToro data revealing increases in the numbers of crypto assets being held during the last quarter,” wrote eToro, a multi-asset investment platform, in an email to CoinDesk.

Bitcoin trading activity dropped significantly over the past week as the price remains stuck in a range between $30,000 and $40,000. The seven-day average of BTC daily price volume reached the lowest level since December 2020, according to a Tuesday report by Arcane Research.

“The 4th of July celebration could partly explain the slow weekend, but the appetite for trading bitcoin is certainly not very high in this range-bound environment,” Arcane wrote.

“We expect intermediate-term oversold conditions to give way to a relief rally and would expect buyers to step in above the 50-day moving average around $36,000,” wrote Katie Stockton, managing director of Fairlead Strategies, in a newsletter published on Monday.

A breakout above the 50-day moving average would yield an upside target towards $44,000-$45,000 resistance, according to Stockton.  

As more than 50% of miners went offline after China started cracking down on crypto mining, bitcoin’s hashrate dropped at one point to 84.3 EH/s, the lowest since September 2019. In response to a prolonged time for miners to find a new block, bitcoin’s code was automatically adjusted, making it easier for miners to solve the computational puzzles.

“It’s become both easier and more profitable to mine bitcoin,” said Nick Spanos, one of the earliest bitcoin exchange operators. “That’s a recipe for enticing more miners back in.”

yearn finance (YFI) +14.41%

uniswap (UNI) +11.2%

aave (AAVE) +9.86%

Notable losers: 

the graph (GRT) -2.81%

cardano (ADA) -0.9%

litecoin (LTC) -0.84%

Q2 Cryptocurrency Review: It Was A Wild And Volatile Quarter; 4 Issues Ahead 06 July, 2021 - 06:06pm

The second quarter of 2021 was an incredibly wild ride in the cryptocurrency asset class. Bitcoin, which was at five cents per token eleven short years ago, rose to over $65,000. The price of the leading cryptocurrency exploded before imploding.

Bitcoin reaching its peak on Apr. 14, the day that Coinbase Global (NASDAQ:COIN) listed shares on NASDAQ. The stock rose to a high of nearly $430, giving the trading platform an almost $100 billion valuation. At the high, COIN was worth more than the CME and ICE—two established trading platforms. Bitcoin and COIN halved in value following the spike and blow-off highs.

Investors and traders were drawn to the crypto asset class as the magnetic forces of the unprecedented parabolic price action are powerful. The rally ran out of upside steam, leading to price carnage.

As we head into Q3, the libertarian form of money faces challenges, but devotees believe that the price correction is nothing more than a speedbump that creates another buying opportunity. Some opponents continue to believe cryptos are dangerous. Charlie Munger, Warren Buffett’s 97-year-old partner, called them “disgusting and contrary to the interests of civilization.”

Notwithstanding Munger's opinion, when it came to performance, the multi-year bullish trend continued, but the asset class lost value in Q2.

While cryptocurrency prices exploded to new highs during Q2, the results were negative on a quarter-to-quarter basis. At the end of Q1, the asset class’s market cap stood at $1.978 trillion as prices were on the way higher, pushing the overall value north of the $2.4 trillion level, eventually reaching an overall market cap north of the $2.4 trillion level during Q2. However, on June 30, the market cap stood at the $1.447 trillion level, down 26.85% during the second quarter.

Bitcoin weighed on the market cap as the leading cryptocurrency dropped by 42.11% from Mar. 31 through June 30, 2021. Bitcoin traded to a high of over $65,500 per token during the quarter but closed just under the $35,000 level as it came to a close.

Bitcoin’s price explosion, that took it to a high on Apr.14, then turned into an implosion.

The chart shows that it took four and one-half months for Bitcoin futures to climb from the $28,800 level to $65,520. In less than half that time, Bitcoin took an express elevator to the downside. At the $35,000 level on June 30, Bitcoin was closer to the low than the high in 2021.

The selling began after Elon Musk decided miners were leaving too much of a carbon footprint, prompting his company, Tesla (NASDAQ:TSLA), to suspend accepting Bitcoin for the automaker’s EVs. However, furious selling came as China cracked down on mining and other activities as the country prepares to roll out its digital yuan.

Bitcoin fell by just over 42% in Q2. While many other tokens followed the leader, Ethereum moved higher in the second quarter, but not before halving in value.

The weekly chart shows the move that took Ethereum futures to $4,406.50 during the week of May 10 and the collapse that sent the price to a low of $1697.75 in late June. Ethereum settled at the $2265.49 level at the end of June, 16.60% above the level on Mar. 31, 2021.

The leading cryptocurrencies moved in opposite directions in Q2, but both settled closer to the lows than the highs over the period.

Dogecoin (DOGE) began as a joke when it first started trading in late 2013 at around $0.0002047 per token. By Mar. 31, 2021, the price had risen to $0.06199, an impressive gain.

Source: CoinMarketCap

As the chart shows, DOGE rose to a high of 68.48 cents on May 6 and was trading at the 24.45 cents level on June 30, nearly four times higher in Q2.

DOGE was no joke as Elon Musk and a host of celebrities embraced the cryptocurrency pushing the market cap to the $32 billion level and into sixth place above XRP, Solana, Litecoin, and many other high-flying cryptocurrencies at the end of June.

The market cap of the asset class may have declined by 26.85% in Q2, but that did not slow the number of new tokens coming to market. As of June 30, 10,725 different cryptocurrencies made up the asset class, up 1,680 or over 18.5% from the end of Q1. At the end of 2020, the number of cryptos stood at 8,153.

The number of cryptos continues to increase, prompting miners and speculators to throw money at new issues hoping to own a piece of the next token that will deliver returns seen in Bitcoin, Ethereum, Dogecoin, and many other leading cryptocurrencies.

Meanwhile, as the market cap declines, the constant flood of new entries dilutes the asset class. Many of the over 10,700 will wind up as dust collectors in computer wallets. However, the speculative fervor will continue until the memories of incredible riches fade into history.

As we head into Q3 and the second half of 2021, at least four issues will continue to plague the burgeoning asset class:

Custody, security, and carbon can be addressed by technology. Regulation and government control are another story. I expect these issues to mount as the asset class’s market cap rises over the coming months and years. As of the beginning of the second half of 2021, governments hope they will not have to address the issue as the market cap dropped. Do not expect them to sit idly by if it begins to rise at a rate seen until April and May 2021.

I see lots of value in blockchain and the cryptocurrency revolution. However, I think we will see it divided into two groups, cryptos and digitals. The cryptos will continue to embrace the libertarian view of money. Digital yuan, dollars, euros, and other currencies, along with a growing number of stable coins, will populate the digitals.

Meanwhile, expect lots of volatility in cryptocurrencies over the coming months as speculative interest will only increase.

OpenOcean has announced an investment from Huobi Ventures. Huobi Ventures has invested in OpenOcean. OpenOcean Announces Huobi Ventures Backing OpenOcean, a pioneering full...

Bitcoin trades sideways in what looks more like a consolidation of the bear trend than a reversal pattern. This means we are more likely to head lower eventually as we hold strong...

Ethereum keeps trading more than 50% lower than its price high of $ 4,378, registered on May 12, 2021. Even though the current levels may seem tempting for many potential investors...

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ADA, DOGE overtake BTC as the most popular cryptocurrencies for US eToro users

Cointelegraph 06 July, 2021 - 01:08pm

Bitcoin, the so-called king of cryptocurrencies, has seen its popularity decline among U.S.-based eToro users over the past 12 months. Despite more volatility, altcoins are growing in popularity.

New research shared with Cointelegraph showed that ADA is the most popular cryptocurrency held by United States-based eToro users, up from third place in the second quarter of 2020. After not making the rankings at all a year ago, DOGE is now the second most-held cryptocurrency among U.S.-based investors.

Rounding out the top five are Tron, Ether (ETH) and Bitcoin, which saw its Hold Rank fall from first place a year ago.

Despite experiencing one of their biggest-ever market corrections, and certainly the largest in dollar terms, cryptocurrencies remain in favor among retail investors. The research provided by eToro showed that retail investors are confident in the potential of the new asset class moving forward.

Other popular cryptocurrencies for U.S. investors include Stellar's Lumen (XLM), Iota's MIOTA token and Ethereum Classic (ETC).

Cardano’s high ranking is hardly surprising, given the massive community that founder Charles Hoskinson has cultivated over the years. As Cointelegraph recently reported, ADA is the most capitalized cryptocurrency in terms of staked value at just over $32.6 billion.

DOGE, meanwhile, burst into the mainstream this year thanks to an eye-watering rally through May. At one point during the rally, DOGE surpassed even Bitcoin in terms of tweet volume, which is a good proxy for retail interest.

Related: Elon Musk's latest attempt to pump Dogecoin fails miserably

With few exceptions, cryptocurrencies by and large remain in a firm intermediate downtrend. The short-term outlook remains tilted to the downside as Bitcoin continues to trade within a narrow range, unable to break above key resistance. Nevertheless, platforms like eToro continue to see an influx of users, as evidenced by the 214% increase in new registrations earlier this year.

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