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    How The Fed Is Punishing Bitcoin Investors | Weekly Update

    Anthony Pompliano

    How The Fed Is Punishing Bitcoin Investors | Weekly Update

    There’s only one thing to talk about this week: The Federal Reserve. Anthony Pompliano breaks down what The Fed did this week, and what it means for the bitcoin market going forward. FTX US is the most complete crypto and finance app that allows users to buy crypto, stocks in the future and NFTs with no fees. Download FTX US today using the links below for exclusive benefits awarded to BBS viewers: FTX App (Code “”pompbbs””): https://link.blockfolio.com/9dzp/2l8scudz
    -Earn free crypto on trades over $10 on the FTX mobile app- FTX Exchange (Advanced): https://ftx.us/home/#a=pompbbs
    -Receive 10% off trading fees on FTX.US exchange- Pomp writes a daily letter to over 200,000+ investors about business, technology, and finance. He breaks down complex topics into easy-to-understand language while sharing opinions on various aspects of each industry. You can subscribe at https://pomp.substack.com/ View open jobs in crypto: https://pompcryptojobs.com/
    Enroll in my crypto academy: https://www.pompscryptocourse.com/ Follow Pomp on social media:
    Twitter: https://twitter.com/APompliano
    Instagram: https://www.instagram.com/pompglobal/
    LinkedIn: https://www.linkedin.com/in/anthonypompliano/
    Website: https://anthonypompliano.com/ #AnthonyPompliano #Pomp #Bitcoin #Finance #Business #Crypto

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    Crypto Downtrend Led Investors To Liquidate Over $432 Million

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    Crypto Downtrend Led Investors To Liquidate Over $432 Million

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    The overall financial market is discouraging this week. Stocks and cryptos are plummeting as anticipation of the upcoming rate hike grows. The latest CPI for August was a force that pushed the market towards the edge.  The figure was higher than expected, increasing fear in the industry. As the Feds prepares to hit the market with the biggest rate hike, exchanges have started liquidating leveraged positions. This strategy is geared at cutting down losses as events unfold. Related Reading: WATCH: Bitcoin Bloody Monday Leads To Reversal Hammer | BTCUSD September 19, 2022 Traders’ Positions Liquidated As The Market Panics  Coinglass has disclosed the data of liquidations currently taking place across diverse exchanges. According to the data app, 130,087 traders have seen their positions liquidated. The total amount has reached $431.51 million at the time of writing. Many crypto traders of Bitcoin and Ethereum were hit more in the ongoing frenzy. Bitcoin traders lost $44.5 million of their leveraged positions, while Ethereum traders lost $8.39 million in liquidations.  Going by the positions, the longs took the lead while the short position holders followed suit. According to Coinglass, the amount between the two is 10X, and the highest liquidation so far occurred on Okex.  Data shows that Okex liquidations amounted to $190.41, comprising $181.30million in long positions and $9.11 million in short positions.  The following exchange with high liquidations after Okex is Binance. The exchange liquidated $77.49 million in long positions and $12.99 million in short positions, amounting to $90.48 million.  Other top riders in a frenzy include FTX with $57.59 million in long and short positions and Bitmex with $28.78 million. There is also ByBit and Huobi, with $27.86 million and $18.91 million in total liquidations.  Macro Factors Responsible For Market Downtrend The price movement of assets this week has increased the uncertainty in the crypto market. Many cryptocurrencies are trading in red, with a double-digit downfall in the last 24 hours. The price crash has pushed the overall market capitalization below $1 trillion.  Analysts are attributing the ongoing downtrend to many macroeconomic factors. The most prominent one is the CPI data that shocked everyone on September 13. The data was higher than the market expected, showing inflation still rages.  The effect of the data was seen immediately after its release. The number one crypto, Bitcoin, lost $1000 within minutes. From then onwards, other crypto assets started shedding prices to the detriment of investors.  Another factor seemingly pushing the4 market down is Ethereum Merge. After the upgrade, the crypto price plunged to $1300, leading to many people believing the predictions that it was overhyped.  Related Reading: Ethereum Could Gain 10% Before ETH Resumes Its Reversal Due to the high CPI data, the Fed’s meeting on September 21 is causing panic in the market. The market is waiting for the next interest rate hike, and pundits are already predicting a figure that hasn’t been seen in 40 years. The Feds might move to a 100-point after the meeting.  Currently, both stocks and crypto are strongly bearish. After September 21, the market move might be more terrifying than what it is today, September 19. Featured image from Pixabay and chart from TradingView.com

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    The Bitcoin Network Has Never Been Stronger | Weekly Update

    Anthony Pompliano

    The Bitcoin Network Has Never Been Stronger | Weekly Update

    Bitcoin had another wild week. Anthony Pompliano breaks down the bitcoin market, White House crypto reports, Michael Saylor’s next moves, and the ethereum merge. FTX US is the most complete crypto and finance app that allows users to buy crypto, stocks in the future and NFTs with no fees. Download FTX US today using the links below for exclusive benefits awarded to BBS viewers: FTX App (Code “”pompbbs””): https://link.blockfolio.com/9dzp/2l8scudz
    -Earn free crypto on trades over $10 on the FTX mobile app- FTX Exchange (Advanced): https://ftx.us/home/#a=pompbbs
    -Receive 10% off trading fees on FTX.US exchange- Pomp writes a daily letter to over 200,000+ investors about business, technology, and finance. He breaks down complex topics into easy-to-understand language while sharing opinions on various aspects of each industry. You can subscribe at https://pomp.substack.com/ View open jobs in crypto: https://pompcryptojobs.com/
    Enroll in my crypto academy: https://www.pompscryptocourse.com/ Follow Pomp on social media:
    Twitter: https://twitter.com/APompliano
    Instagram: https://www.instagram.com/pompglobal/
    LinkedIn: https://www.linkedin.com/in/anthonypompliano/
    Website: https://anthonypompliano.com/ #AnthonyPompliano #Pomp #Bitcoin #Finance #Business #Crypto

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    ApeCoin Climbs 4.3% In Last 7 Days – Where’s APE Getting All That Energy?

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    ApeCoin Climbs 4.3% In Last 7 Days – Where’s APE Getting All That Energy?

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    ApeCoin (APE), the Bored Ape Yacht Club token, has been rallying over the past week with gains registering at a peak of 4.3% and trading at the $5.12 level. APE shows energy, rallies 4.3% in the past seven days Coin impacted by general crypto slump US inflation also weighing down on crypto price APE is a busy bee and apparently, the recent uptick enjoyed by APE is said to have been ushered by current projects or developments in the network. The Ape Foundation has recently rolled out a couple of recommendations in line with the Decentralized Autonomous Structure (DAO) election procedure. In the event that these proposals are approved, there would be a rolling election instead with an election of council members every three months. Related Reading: NEAR Bulls Charge Their Way Past $4.7 Amid Lack Of Spike In Volume ApeCoin Recent Developments Contributed To Its Surge With the rest of the other altcoins having a hard time breaking through, quite the opposite is happening for ApeCoin. APE price has surged and looking bullish. However, the plunge in the value of crypto is dubbed to be of the reasons why APE isn’t gaining traction. ApeCoin has recently posted on Twitter stating that this provides an increasingly stable ecosystem to haul in new members and so far, ensures the consistency of the DAO to manage and transfer knowledge and expertise to the community. Community members have been recommending broader representation from individuals who do not have existing affiliations with crypto-backed organizations to avoid any conflict of interests. Currently, the Ape Foundation is composed of Amy Wu (FTX Ventures), Yat Siu (Animoca Brands), Alexis Ohanian (Reddit), Maaria Bajwa (Sound Ventures), and Dean Steinback (Horizon Labs). Crypto Market Experiencing Downtrend According to CoinMarketCap, ApeCoin’s price had nosedived by 4.05% or trading at $4.73 as of this writing. The crypto market has been experiencing a downtrend recently with the total market cap sliding to below $1 trillion as observed in the past 24 hours. Evidently, the king of crypto, Bitcoin, failed to climb or show any improvement as it trades at roughly $20,000 yesterday. U.S. inflation seems to be severely impacting crypto prices. So, it is indeed the crypto market’s overall dilemma that prevents ApeCoin from moving further up north. Another factor that is preventing the gains of ApeCoin is the current dollar strength. The U.S. dollar is on an upward trend since Thursday as it shoots through previous highs in line with the U.S. Federal Reserve trying to tame inflation. Related Reading: Why Celsius Investors Don’t Seem Upbeat Despite CEL Rallying 30% Their efforts are seen to work with the U.S. dollar remaining stable at 109.84. More so, the risk-off market sentiment has also helped the U.S. dollar, increasing the demand for fiat currencies such as the U.S. dollar. Judging by the technical side, APE seems to have gained support at the $4.95 zone and a breach below this mark could allow the coin to capsize further until it touches the support zone of $4.35.  On the other hand, the daily timeframe revealing an upward trendline is beneficial to altcoins. On the flip side, a breach at the $4.35 level could trigger a downtrend for the APE/USD pair to funnel down to as low as $3.12. APE total market cap at $1.46 billion on the daily chart | Source: TradingView.com Featured image from The VR Soldier, chart from TradingView.com

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    What Is Driving Bitcoin’s Volatility? | Weekly Update

    Anthony Pompliano

    What Is Driving Bitcoin’s Volatility? | Weekly Update

    A lot of things happened this week in the bitcoin market. Anthony Pompliano discusses bitcoin’s price action, what The White House and Biden Administration just said about proof of work, Gary Gensler’s recent statements about bitcoin, and more. FTX US is the most complete crypto and finance app that allows users to buy crypto, stocks in the future and NFTs with no fees. Download FTX US today using the links below for exclusive benefits awarded to BBS viewers: FTX App (Code “”pompbbs””): https://link.blockfolio.com/9dzp/2l8scudz
    -Earn free crypto on trades over $10 on the FTX mobile app- FTX Exchange (Advanced): https://ftx.us/home/#a=pompbbs
    -Receive 10% off trading fees on FTX.US exchange- Pomp writes a daily letter to over 200,000+ investors about business, technology, and finance. He breaks down complex topics into easy-to-understand language while sharing opinions on various aspects of each industry. You can subscribe at https://pomp.substack.com/ View open jobs in crypto: https://pompcryptojobs.com/
    Enroll in my crypto academy: https://www.pompscryptocourse.com/ Follow Pomp on social media:
    Twitter: https://twitter.com/APompliano
    Instagram: https://www.instagram.com/pompglobal/
    LinkedIn: https://www.linkedin.com/in/anthonypompliano/
    Website: https://anthonypompliano.com/ #AnthonyPompliano #Pomp #Bitcoin #Finance #Business #Crypto

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    VGX, Native Crypto Of Troubled Voyager Platform, Gains 44% Over Last 24 Hours

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    VGX, Native Crypto Of Troubled Voyager Platform, Gains 44% Over Last 24 Hours

    crypto basset hound

    Voyager (VGX), the crypto exchange platform that declared bankruptcy in July, used to be a force to reckon with in the crypto space. VGX pumps up in price by 44% in the past 24 hours Voyager Digital files notice for public auction of the remainder of its assets  VGX registers a spike in trading volume and social metrics  In fact, VGX, its native token, has soared 10x in a few months following its launch. VGX token exhibited some generous spike in 2021 but was terribly decapitated by the crypto downturn in 2022 that led to its bankruptcy. Albeit, VGX seems to be recovering on coming back stronger as it has registered a remarkable gain stepping it up amid the top 200 cryptocurrencies. According to CoinMarketCap, VGX price has nosedived by 19.56% or trading at $0.8528 as of this writing. Related Reading: Cardano (ADA) Could Shed Another 14% Off Its Price – Here’s Why Voyager Digital Files Notice For Auction Voyager Digital has recently filed a notice informing the United Stated Bankruptcy Court for the Southern District of New York that the company will be having an auction to dispose the remainder of its assets. The auction is set to be held at the Manhattan office of Moelis & Company on September 13. More so, hearing on approval on the results is scheduled on September 29. Apart from Voyager hinting there’s trouble in paradise, this also indicates that the crypto platform has received more than enough bids for its remaining assets which Voyager has recently confirmed in a tweet. Apparently, Voyager has been getting multiple bids on the auction of its assets which can further consolidate and strengthen the platform’s redesign process. Evidently, this development came following a crypto lender’s rejection of an offer coming from FTX exchange. VGX Trading Volume Remains Bullish VGX has seen remarkable gains since then. With a revved up trading activity, VGX token’s trading volume has also soared by 2,000% overnight. Reportedly, in August, trading volume of Voyager token is at $87.64 which is considerably the highest daily volume registered for VGX in the past month. Chart: CoinMarketCap Following a massive bullish momentum, VGX’s social dominance has also appeared bullish which isn’t a surprise. However, despite the positive outlook of VGX token, the future of both Voyager Digital and VGX token looks bleak which means investing or trading should be made with extreme caution. Voyager token is a US-based crypto exchange platform established in 2017 by founders Stephen Ehrlich, the CEO, together with Gaspard de Dreuzy and Philip Eytan, finance and tech industry titans.  Voyager happens to be a registered traded company listed on the Toronto State Exchange. The crypto exchange platform has over 100 coins that you can buy using its secure and fast mobile application that allows users to earn 7% to as much as 12% in rewards on a yearly basis plus an opportunity to beef up earning though the Voyager Loyalty Program. Voyager has so many exciting and innovative plans and perks in store for users such as debit card plus other DeFi projects. Related Reading: Bitcoin Bulls Aim Past $20,000 Level – How Hard Can They Charge Forward? Crypto total market cap at $1 trillion on the daily chart | Source: TradingView.com Featured image from CoinJournal, chart from TradingView.com

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    CryptoSlate Wrapped Daily: Bitcoin pumps to cross $21K; Ethereum Merge expected on Sept. 14

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    CryptoSlate Wrapped Daily: Bitcoin pumps to cross $21K; Ethereum Merge expected on Sept. 14

    The biggest news in the cryptoverse for September 9 includes Bitcoin’s recent rally that took it above the $21,000 level; block calculation estimations indicating that Ethereum Merge will take place on September 14; and Binance’s decision to not apply LUNC 1.2% token burn on spot and margin trades.

    The post CryptoSlate Wrapped Daily: Bitcoin pumps to cross $21K; Ethereum Merge expected on Sept. 14 appeared first on CryptoSlate.

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