Cryptocurrency

On November 30, dYdX launched XRP perpetual contracts that offer traders the ability to leverage up to ten times, with a minimum order size set at ten XRP. This addition was made available through the trading portal dydx.trade. The move comes as part of the exchange’s broader strategy to diversify its market offerings and cater to an increasing demand for varied trading options in the cryptocurrency space.The last trading day before the new contracts were announced saw a substantial $47 million in trading volume and $3 million in open interest on dYdX. These figures reflect the platform’s robust activity and traders’ enthusiasm for the new trading instruments.However, it’s important to note that access to these new services is not universal. Residents of certain regions, including the U.S. and Canada, are restricted from using these services due to regulatory limitations in those jurisdictions.In addition to the market expansion, it was highlighted that both the dYdX Chain and the trading portal are governed autonomously under DOS governance. This structure ensures that neither dYdX nor dYdX Trading Inc. has direct control over the operations, underscoring the decentralized nature of the exchange. This operational independence is a key characteristic of decentralized finance (DeFi) platforms, which aim to operate without the need for a central authority.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The president of Colombia’s foray into Bitcoin is not just about holding digital assets; it symbolizes the broader acceptance and potential integration of cryptocurrency into the country’s economic framework. While it remains to be seen what the president intends to do with his , the act itself is a gesture of openness toward the digital economy. He joins a list of leaders like Nayib Bukele of El Salvador, who has been a pioneer in adopting Bitcoin as legal tender and integrating it into the nation’s economic strategies.As we examine the chart, the immediate support level to watch is the lower boundary of the ascending channel, currently near the $35,000 mark. This level has been tested multiple times, establishing its significance. On the flip side, the upper boundary of the channel, close to the $40,000 level, poses as the next significant resistance. A break above this could open the doors for further gains, potentially aiming for the next psychological milestone at $45,000.The recent candlesticks show a bullish engulfing pattern, suggesting that buyers are aggressively defending support levels. The moving averages have maintained a bullish crossover, with the price trading above them, reinforcing the positive trend.This article was originally published on U.Today More

Traders looking to leverage their positions can now do so with up to 10x leverage on XRP trades through the platform’s website. The minimum order size for these trades is set at 10 XRP. In the past day, dYdX has seen a trading volume of $47 million with open interest reaching $3 million, indicating robust activity following the launch.One of the key features of dYdX is that users maintain custody of their cryptocurrencies while trading. Additionally, they have the potential to earn DYDX tokens as a reward for conducting transactions on the platform. However, it is important to note that these services are not accessible to users in certain regions, including the U.S. and Canada, due to regulatory restrictions.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

, eyeing an impressive $42,000 target, surged an astounding 30% since October, while ETH firmly held ground above the $2,000 mark.However, the plot took an unexpected turn just hours later, as the chart turned a vibrant green, displaying an intraday gain of over 2.2%. Surpassing its 2023 high, BTC reached its pinnacle value since May 2022. What distinguishes this surge from that period is the upward trajectory, signifying bullish momentum.BTC to USD by Henrik Zeberg’s keen insights extend beyond Bitcoin to a selection of altcoins that are currently in his spotlight. Notably, is up over 3%, Cosmos (ATOM) has surged 1.8%, Sei (SEI) is up 3.2% and Chainlink (LINK) has risen by 2.44%.While Henrik Zeberg has already outlined the price ceiling for Bitcoin at $42,000, the burning question remains: will the market giant reach this milestone according to the trader’s expectations?As crypto enthusiasts eagerly await the unfolding of events, the positive momentum in both Bitcoin and altcoins suggests interesting times ahead on the ever unpredictable crypto market.This article was originally published on U.Today More

Crypto exchange Coinbase (NASDAQ:COIN), as well as digital coin miners Marathon Digital (NASDAQ:MARA) and Riot Platforms (NASDAQ:RIOT), all climbed by more than 3%.Underpinning the gains was a jump in Bitcoin, which had added 1.81% to $38,585.4 by 06:06 ET (11:06 GMT). At one point, the world’s largest digital asset had surged to $38,834 — its highest price so far this year.Bitcoin has soared by over 133% in 2023, as bets that the Federal Reserve will soon end its long-standing campaign of interest rate hikes bolstered risk appetite amongst investors.Excitement around the token has also been spurred on by hopes that U.S. regulators will approve an initial batch of exchange-traded funds that invest directly in Bitcoin. Several top asset managers, including BlackRock (NYSE:BLK) and Invesco, have already filed applications with the U.S. Securities and Exchange Commission.The increase marks a rebound for Bitcoin from a sharp drop last year that was sparked in part by the collapse of the TerraUSD stablecoin network. More

, a prominent crypto analytics platform, has reported that the whale has executed a transfer of 3,623 BTC, valued at an impressive $136.94 million, to two newly created wallets.This financial giant had stealthily accumulated its crypto assets at an average cost of $6,889 per in the period from Oct. 25, 2018, to Dec. 31, 2019. At that time, the total investment was a mere $24.96 million. Fast forward to today’s market prices, and the whale is now sitting on a staggering profit of approximately $112 million.The timing of this monumental move coincided with achieving its highest value since May 2022, soaring to an impressive $38,500 per BTC. The crypto community is abuzz with speculation, with some analysts pointing to a potential correlation between such awakenings of dormant Bitcoin holders and impending sell-offs.Notably, a similar pattern emerged earlier this year, where a series of unexpected awakenings resulted in an 18% correction in the , plummeting to a temporary low of $24,777. While it is too early to determine if this recent awakening will spark a trend, market observers are keenly monitoring this development.This resurgence marks the first of its kind in a while, and its implications for the broader crypto landscape are yet to be fully understood.This article was originally published on U.Today More

In a spirited message, Hayes emphasized his desire for Powell to make a bold move by slashing interest rates and propelling Bitcoin to new heights.Hayes’ enthusiasm is not without cause. Historically, December has proven to be a bullish month for , particularly when preceded by positive closures in October and November.Bitcoin’s Quarterly Returns by The focus of Hayes’ optimism lies in his anticipation of a monetary policy shift by Powell. The former BitMex CEO predicts a pivot toward easing monetary policy and lowering interest rates.In simpler terms, Hayes expects the metaphorical “money printer” to be activated, resulting in cheaper money and an upswing in the value of financial assets, with Bitcoin at the forefront.As the crypto community eagerly awaits Powell’s speech, Arthur Hayes’ bold predictions and contagious enthusiasm set the stage for an exciting December. The prospect of Bitcoin ascending to new heights is intricately linked to the potential actions of the Federal Reserve, creating a buzz within the crypto space. The question on everyone’s mind is: will Powell’s words and actions indeed send to the moon this December? The crypto world is poised for a thrilling ride.This article was originally published on U.Today More

The current technical formation on the daily chart is reminiscent of a rising wedge, a pattern that often indicates a continuation or reversal based on the subsequent breakout. Bitcoin’s steadfast approach toward the upper resistance level signals an undercurrent of buying pressure that seeks to disrupt the equilibrium and set a new course for price discovery.A key observation is the proximity of the price to the upper trendline of the wedge. As continues to knock on this pivotal door, traders and investors alike are monitoring for either a definitive breakout to the upside or a rejection that could lead to a retest of underlying support levels.The RSI, a momentum indicator that gauges the speed and change of price movements, remains above the midline, suggesting that bullish momentum has not yet been exhausted. However, it is essential to remain vigilant as the RSI approaches overbought territory, which could presage a potential retracement or consolidation.The moving averages paint a supportive backdrop for the bullish case, with shorter-term averages situated above longer-term ones, indicative of sustained bullish sentiment. Volume, while not overwhelmingly robust, has been sufficient to sustain the gradual ascent, providing a foundation for incremental price increases.Recent price charts reveal a pattern of consolidation for XRP, with the token struggling to establish a clear directional trend. After experiencing a sharp uptick in value, the token has entered a period of ranging, wherein the price oscillates within a relatively stable band. Technical indicators on the daily charts, such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI), are painting a picture of cautious optimism. The MACD shows the potential for a bullish crossover, suggesting that upward price movement may be on the horizon. However, the RSI, which measures the speed and change of price movements, resides in a neutral zone, hinting at a potential lack of conviction among traders.The support level is currently being tested, and the ability of XRP to maintain this level is crucial. A decisive break below could signal a bearish trend, while holding or bouncing off could reinforce investor confidence, potentially leading to a rebound.The daily chart for presents a narrative of anticipation. After a significant surge, the price has entered a phase of consolidation, characterized by a tightening of price movements between support and resistance levels. A closer examination of the chart reveals that LINK has been printing higher lows, a bullish signal that points to sustained buying interest at each dip. Moving averages are aligned on an upward trajectory, reinforcing this optimistic outlook. However, the market is yet to see a robust volume increase that would confirm a bullish breakout.The Relative Strength Index (RSI) hovers at a neutral level. This lack of extremity in the RSI indicates that LINK is neither overbought or oversold, leaving room for a potential move in either direction. It is important to watch the RSI closely for any divergence that may signal a shift in momentum.This article was originally published on U.Today More