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Dec 19,2022

Top Trending Crypto on Binance, BNB Ousts Bitcoin on Second Position

BNB is the most popular crypto on Binance crypto exchange, followed by Bitcoin.The popular token, HOOK, ranked fourth in the "Crypto Trending on Binance" list. HOOK has a market capitalization of 214 on CryptoRank but has an overall increase of 5.1% in its market price. The leading crypto exchange, Binance flagship, BNB is the most popular cryptocurrency on Binance search platform, while the most popular crypto in the market, Bitcoin is in second place on the list. A recent data from Crypto Differ has revealed a list of the top 15 coins by search terms on Binance. But what is even more surprising is the "little known" brand, HOOK, which is in fourth place with a 5.1% increase in its market value. Note that HOOK has a market capitalization rank of 214 on CryptoRank. HOOK popularity is highest on the Binance exchange as only 8% of its volume comes from other exchanges while the rest comes from Binance. As for BNB, the coin receives only 31% of Binance volume while the remaining 69% comes from other crypto exchanges. The local token has seen a decrease of 5.1% in the last 24 hours. The third and fourth positions on the list are Ethereum (ETH) and Dogecoin (DOGE), respectively. Also, another crypto that does not like to make the list is a crypto wallet, SafePal brand, SFP, which has a market capitalization of 166. On Binance, SFP ranked 12th with 1.8 % of the highest price change over 24 hours. A significant decrease in BNB, however, may cause fear among crypto investors. After the collapse of FTX, panic started to circulate around Binance as it suddenly announced to stop withdrawing $USDC. However, President Changpeng Zhao later clarified that it was not the water crisis but banking issues that caused the withdrawal. Dismissing the comparison to FTX, Zhao also said that Binance has strong liquidity and no problems.
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Dec 17,2022

BTC Below $16,880 Support; Will It Follow a Positive Traction?

Bitcoin is far from its price of $21,000 in November 2022.Currently, BTC is moving at $16,715. VC Tim Draper predicted that BTC will hit $250,000 in 2023, which analysts say is impossible.Although Bitcoin (BTC) and other major coins have fallen due to the fall of FTX in November, some price forecasts are optimistic that BTC will hit $250,000 in 2023. Tim Draper, the founder of Draper Venture Network, recently predicted that BTC will hit $250,000 next year, despite the failure of FTX. However, this prediction is impossible in the eyes of other analysts, since BTC is not even above $60,000. As of this writing, BTC has traded at $16,715, down 0.28% in the last 24 hours. BTC Day 1 trading indicator shows that the coin is sitting below the shortest support zone at $16,880. If BTC breaks this support zone in the intraday trade, it may go back to its previous resistance of $17,100 in the following days. Apparently, after a volatile price change since late November, BTC reached $18,388 on December 14 due to the FOMC meeting. Also, the 20-day EMA shows that the candle is close to the EMA line, but the possibility of the price reaching that line is less in intraday trading. From another point of view, BTC is retracing the same pattern from September 13 to November 5. In this regard, there will be a slight push in the coming days. Significantly, upcoming economic events such as the IFO Business Climate Index and the CBI Industry Trends will also contribute to the price trends of BTC and other coins.
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Dec 16,2022

Price of Cardano (ADA) Will Experience Massive Drop as 2022 Ends

Technical indicators suggest that the price of ADA will decrease further by the end of 2022. The ADA efforts to challenge the unethical process were recently withdrawn. Traders may exit their positions after the Christmas rally. The current technical situation in the Cardano chart shows that the bottom line of the project, ADA, will end the last 2 weeks of 2022 with a huge loss. Many of the factors that have caused prices to line up over the past week have not had the expected impact on the price of altcoins. This can cause customers to leave their positions for the last Christmas session. Following the euphoria of lower US prices on Tuesday, the ADA price was strongly rejected when it attempted to test the red descending trend on its chart. The decline led to a fall in prices that continued last Friday. Therefore ADA cannot withstand the current market turmoil. Also, the fact that it is off the landing line again means that hope for a break is fading. Retailers may be looking to get out of their stockpiles after Christmas, which will lead to sales next week. This selloff will bring ADA value down to $0.194. ADA is trading at $0.2639 at reporting time after the price fell 1.49% in the last 24 hours according to crypto market monitoring website, CoinMarketCap. The altcoin also decreased against Bitcoin (BTC) and Ethereum (ETH) by 1.36% and 0.93% respectively. The daily RSI on the ADA chart suggests that the ADA price will break below the current 3-day support. This bearish news is also supported by the fact that the 9 day EMA is trading below the 20 day EMA mark.
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Dec 14,2022

Bitcoin hits a one-month higher than expected US price

Major cryptocurrency Bitcoin was on a big rally on Wednesday, hitting its highest level in a month on the back of a sharp slowdown in US inflation data. Generally speaking, the crypto market is currently running with the focus on the FOMC policy meeting. Bitcoin, which dominates the crypto market, approached the $18,000 mark as the weekly performance continued. Additionally, with a rosier-than-expected inflation print, Bitcoin snapped its seven-day losing streak. Other peers such as Ether, Binance, XRP, and Dogecoin have also been on the rise in the past 24 hours. According to data from CoinMarketCap, at the time of writing, the value of the crypto market is around $ 870.29 billion, up 2.58% from the last day. In addition, the market volume increased by 56.82% in the last 24 hours to $52.72 billion. Bitcoin, which has around 39.27% market share, is trading above $17,780 and is up more than 3.5% in the last 24 hours. The crypto market capitalization is about $341.5 billion. Its weekly performance made it higher than 4%. Binance is the most popular cryptocurrency on Wednesday. The current intraday Bitcoin price is $17,930.09. Shivam Thakral, CEO of BuyUcoin, India second oldest crypto exchange, said, "Bitcoin peaked in a month before the important meeting of the Fed. Central banks from the United States, Japan, the EU and the UK will leave their mouths the current population, which will have a significant impact on the movement of the price of digital assets in the short and short term. Bitcoin dominance has crossed the 41% mark, indicating a reduction in risk by a large number of investors. Other peers such as Ethereum jumped almost 4%, while BNB and XRP jumped more than 2% each, and Dogecoin is now up 1.75% in the last 24 hours. On Tuesday, US inflation fell to the lowest level of the year at 7.1% in November, more than the estimate of 7.3%. This month rate is the lowest since December last year. It would also be the fifth consecutive monthly drop in inflation. According to Arcane Research, a weaker-than-expected CPI release on Tuesday pushed BTC higher to $18,000 after seven days of volatile trading. Apart from the CPI, the market was quiet. The company lost momentum after a short period of time, and in turn, volumes and output declined. A dovish stance is now expected from the US Federal Reserve in its December forecast. Most expect a 50bp rate hike rather than the 75bp fourth rate hike forecast. To deal with high interest rates for decades, the FOMC tightened its monetary policy by increasing the key rate by 75 basis points for three consecutive policies. In their market research report dated December 13, Bendik Schei Head of Research and Vetle Lunde Senior Analyst at Arcane Research said, "Although Bitcoin has stabilized around $17,000 without material action in the past few weeks, this week can change because many are important. economic events."
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