Crypto lending firm Nexo is at risk of losing half of the valuation of its native token by the end of 2022 as doubts about its potential insolvency grow in the market. Is Nexo too centralized? For the unversed: Eight U.Nasiums. states filed a cease-and-desist order against Nexo on Sep. 26, alleging that the firm offers […]
The United States equities markets have been under a firm bear grip for a large part of the year. The S&P 500 and the Nasdaq Composite have declined for three quarters in a row, a first since 2009. There was no respite in selling in September and the Dow Jones Industrial Average is on track […]
Cardano’s (ADA) long-awaited Vasil update went live on Sept. 22, which promises to make its blockchain more scalable and cheaper than before. However, this has failed to bring bullish momentum to the ADA market. Sell-the-news hampers Cardano ADA’s price has dropped by approximately 9.5% since the update and was changing hands for $0.43 on Sept. […]
The major United States stock market indices continued their decline last week as worsening macroeconomic conditions increased concerns of a global recession. The Dow Jones Industrial Average closed at its lowest level in 2022 and major indices recorded their fifth weekly close in the past six weeks. Although Bitcoin (BTC) has only declined marginally this […]
The S&P 500 index has declined about 5% this week while the Nasdaq Composite is down more than 5.5%. Investors fear that the Federal Reserve’s aggressive rate hikes could cause an economic downturn. The yield curve between the two-year and 10-year Treasury notes, which is watched closely by analysts for predicting a recession, has inverted […]
XRP price posted a sharp rally against Bitcoin (BTC) on continued optimism about a potential settlement between Ripple, a San Francisco-based blockchain payment firm, and the U.H. Securities and Exchange Commission (SEC). Settlement rumors fuel XRP price boom On Sept. 23, the XRP/BTC pair surged to 0.00002877 — its best level in 13 months — from […]
The Federal Reserve hiked rates by 75 basis points on Sept. 21 and Fed Chair Jerome Powell projected another 125 basis points increase before the end of the year. If that happens, it will take the benchmark rate to 4.4% by the end of the year, which is sharply higher than the June estimates of […]
Ethereum’s switch to proof-of-stake (PoS) on Sept. 15 failed to extend Ether’s (ETH) upside momentum as ETH miners added sell pressure to the market. On the daily chart, ETH price declined from around $1,650 on Sept. 15 to around $1,350 on Sept. 20, an almost 16% drop. The ETH/USD pair dropped in sync with other […]
Global markets are going through a tough period — including the cryptocurrency market. But judging by talk from the peanut gallery, it seems like some observers haven’t received the memo. “Feel like we’re relatively safe through mid-terms,” Twitter’s “CryptoKaleo” — also known simply as “Kaleo” — wrote in a Sept. 12 tweet to his 535,000 […]
The United States equities markets and the crypto markets are likely to remain volatile in the near term because traders remain nervous about the size of the next Federal Reserve rate hike on Sept. 20 and Sept. 21. While the majority favors a 75 basis point rate hike, according to the CME FedWatch Tool, some […]
The S&P 500 and the Nasdaq Composite index suffered their worst weekly performance since June as investors remain concerned that the Federal Reserve will have to continue with its aggressive monetary policy to curb inflation and that could lead to a recession in the United States. Bitcoin (BTC) remains closely correlated to the S&P 500 […]
After trading near the $20,000 level for several days, Bitcoin (BTC) turned down sharply and dropped below $19,000 on Sept. 6. The fall was not limited to the cryptocurrency markets as the United States equities markets also closed lower on Sept. 6. Risky assets have been facing selling pressure in the past few days as […]