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An artificial intelligence (AI)-based altcoin is faltering after gaining support from the world’s largest crypto exchange platform by trading volume. In a new announcement, Binance says that it is adding support for Sahara AI (SAHARA), a decentralized AI platform that enables users to develop and monetize AI models, datasets and applications. “Binance is excited to announce that Sahara AI will be added to Binance Simple Earn, ‘Buy Crypto,’ Binance Convert, Binance Margin, and Binance Futures.” News of the addition had a negative impact on the price of SAHARA, as the digital asset went from a peak of $0.141 earlier today to its current price of $0.096, a dip of over 32% in just a few hours. Earlier this week, SAHARA was also added to Binance Earn, a program that allows traders to generate passive income by staking crypto. In its official litepaper, the development team behind Sahara AI says its purpose is to address the common issues...

Hayes may face short-term losses on his Solana buy-in, but the long-term upside looks promising as the cryptocurrency market recovers. Arthur Hayes, the former CEO of crypto derivatives exchange BitMEX, has “admitted” to buying Solana’s SOL (SOL) at its possible local top, stressing his bullish outlook for the cryptocurrency. Fam I have something embarrassing I must admit. I just bot $SOL, I know its a Sam-coin piece of dogshit L1 that at this point is just a meme. But it is going up, and I'm a degen. Let's Fucking Go! — Arthur Hayes (@CryptoHayes) November 2, 2023 SOL’s price has rallied 500% in 11 months Hayes’ self-admitted SOL purchase occurred after it had already rebounded 500% from its market bottom near $8 in December 2022. In addition, the purchase came days after VanEck, an asset management firm supervising $76.4 billion worth of assets, predicted a 10,600% SOL price rally by 2030, citing Solana’s ability to capture the market share of its top layer-1 blockcha...

Two key BTC supply metrics show conflicting signals on whether a retracement will occur before the Bitcoin halving. Bitcoin (BTC) is at 17-month highs with just 164 days until the next Bitcoin  halving event, alongside anticipation of a spot Bitcoin exchange-traded fund (ETF) approval in the coming months. Yet, amid Bitcoin’s 106.38% year-to-date gains, the stablecoin supply rate oscillator (SSRO) has raised a major flag despite suggesting the beginning of a new bull cycle. Stablecoin buying power weakens ahead of Bitcoin ETF This stablecoin supply ratio metric, which acts as an important measure of the dominance of stablecoins vs. Bitcoin, has surged to a new all-time high at 4.13 on Oct. 25, according to data from Glassnode. Such a surge hints at a significant appetite for Bitcoin accumulation on-chain. The SSRO hit a new all-time high at 4.13 on Oct. 25. Source: Glassnode However, this also suggests that the purchasing power of stablecoins is at a relative all-time low. Historica...

Analysts recently debated whether or not the Bitcoin halving is still a meaningful catalyst for BTC’s price discovery. A recent panel at the Swan Pacific Bitcoin festival was cleverly titled, “Are halving price cycles bullshit?” Throughout the discussion, host and founder of the Bitcoin Layer Nik Bhatia asked Marathon Digital CEO Fred Thiel, Swan CIO Ralph Zagury and Swan product manager Andy Edstrom to share their thoughts on whether the Bitcoin halving is truly a bullish event or just another narrative that novice investors buy into.  While the panel’s headline might be offputting for some, the inquiry is of great interest to all manner of Bitcoin (BTC) and cryptocurrency investors. The conventional belief held by many in the space is that the Bitcoin supply halving is a bullish phenomenon that when complete, is followed by near parabolic upside in BTC price. Go and ask any Bitcoin lover about what they’re most excited about in the next year and if they don’t mention the chance ...

LDO price faces downside risks from "sell-the-news" sentiment coupled with a bearish technical setup. Lido DAO (LDO) has declined by more than 40% in the last 30 days with more room to fall in the coming days amid a potential sell- the-news event, i.e. the Merge. Lido DAO Ether deposits surge 160% in 2022 Lido DAO is Ethereum's biggest staking service, having deposited over 4.14 million of the blockchain's native asset, Ether (ETH), into the Ethereum 2.0 smart contract on behalf of its users, according to the latest data . ETH 2.0 total value staked by provider. Source: Glassnode In comparison, Lido DAO's total staked amount was around 1.6 million ETH at the beginning of this year. The boom reflects a growing demand for Lido DAO services ahead of Ethereum's scheduled transition from proof-of-work to proof-of-stake via the Merge on Sep. 15. LDO, a governance token in the Lido DAO ecosystem, has also undergone an unprecedented price rally in recent months, up m...

This week, The Market Report discusses Grayscale’s victory against the SEC, the impact of Evergrande’s bankruptcy, and what happened to the 16 trillion PEPE tokens reportedly stolen. On the latest episode of The Market Report , Cointelegraph analyst Marcel Pechman delves into Grayscale’s victory against the United States Securities and Exchange Commission. Even though there’s still no decision regarding the firm’s application for a spot Bitcoin (BTC) exchange-traded fund, the decision was favorable for Grayscale and its Grayscale Bitcoin Trust, which has over $16 billion in assets under management. Next, Pechman discusses the impact of Chinese real estate giant Evergrande’s bankruptcy and questions why it took almost two years to announce the company’s inability to repay its debt. According to The Kobeissi Letter, it seems related to China’s recent unexpected cut in interest rates. Pechman reminds viewers that China recently announced several measures to stimulate the stock market. Ul...

Bitcoin's future is overwhelmingly bright, and short-term price pressures should not distract investors from a future global asset class, says the Capriole Investments founder. Bitcoin (BTC) stands to win big thanks to the BlackRock exchange-traded fund (ETF), investor and analyst Charles Edwards believes. In his latest interview with Cointelegraph, Edwards, who is founder of quantitative Bitcoin and digital asset fund Capriole Investments, goes deep into the current state of BTC price action. With his previous bullish statements continuing to stand the test of time, and after an eventful few months, Edwards does not see the need to alter the long-term perspective. Bitcoin, he argues, may be less of a sure bet on shorter timeframes, but the overarching narrative of crypto becoming a recognized global asset class undoubtedly remains. Cointelegraph (CT): When we last spoke in February, Bitcoin price was around $25,000. BTC is not only 20% higher today, but Bitcoin’s NVT ratio is als...

The credit market might be challenging at times — but blockchain technology can bring borrowing and lending into the 21st century. Surging interest rates and a challenging economic climate are making it difficult for individuals and businesses to access credit. In emerging markets with a high proportion of unbanked people, such issues are nothing new. Consumers who lack accounts with a financial institution often struggle to apply for loans at competitive rates — primarily because they lack a credit rating. As a result, wary lenders increase the cost of borrowing to applicants perceived as risky. It’s a vicious cycle — a chicken-and-egg situation. You need a reputation to access credit, but how can you build an application without a lender taking a chance on you?  Other pain points exist as well. Even self-employed entrepreneurs with access to a bank account can struggle to borrow funds — all because their income may fluctuate from month to month. In some countries, the application p...

BTC price action teases a slow comedown to support, with Bitcoin dip-buyers at the ready. Bitcoin (BTC) headed lower into the July 5 Wall Street open as a risk-off mood entered United States equities. BTC/USD 1-day chart. Source: TradingView BTC price begins hitting dip-buying targets Data from Cointelegraph Markets Pro and TradingView showed BTC/USD tapping multi-day lows of $30,280 on Bitstamp. BTC price action continued a sideways trading pattern within a larger range in place practically since mid-June. With no discernible progress toward breaking topside resistance, Bitcoin traders hoped that a sweep of the lows would provide the fuel bulls needed. Reached for #Bitcoin. pic.twitter.com/ePhBZET0TW — Michaël van de Poppe (@CryptoMichNL) July 5, 2023 Popular trader Crypto Ed had his eye on the area at $30,000 or just below on the day. “We're heading there, will look for reaction from that level,” he wrote in part of Twitter commentary. BTC/USD annotated chart. Source: Crypto...

Given the uncertainty in the macroeconomic environment, Bitcoin price bulls have no reason to bet against a six-week descending wedge pattern. A bearish market structure has been pressuring cryptocurrencies’ prices for the past six weeks, driving the total market capitalization to its lowest level in two months at $1.13 trillion. According to two derivative metrics, crypto bulls will have a hard time to break the downtrend, even though analyzing a shorter timeframe provides a neutral view with Bitcoin (BTC), Ether (ETH) and BNB, on average, gaining 0.3% between May 12 and May 19. Total crypto market cap in USD, 12-hour. Source: TradingView Notice that the descending wedge formation initiated in mid-April could last until July, indicating that an eventual break to the upside would require an extra effort from the bulls. Furthermore, there’s the impending U.S. debt ceiling standoff, as the U.S. Treasury is quickly running out of cash. Even if the majority of investors believe that the B...

PEPE price risks losing 20% in May due to shaky technicals, waning retail interest, and too many risks of market manipulation. New meme-coin Pepe (PEPE) has entered a sharp correction phase after surging by more than 2,000% since its debut a few weeks ago. On May 3, the PEPE price dropped to $0.00000089, down about 35% from its record high of $0.00000138 established two days ago. As a result of the correction, its market capitalization slipped by nearly $80 million, thus pushing it out of the top-100 top cryptocurrency index.  Pepe price performance since market debut. Source: CoinGecko A mix of technical and fundamental indicators hint at further downside for PEPE price .  Retail interest falls PEPE's daily trading volumes declined across centralized (CEX) and decentralized exchanges (DEX) as price s fell. The same happened to the Google trends for the keyword "Pepe Coin," whose score is down from 100 to 7 in a day, suggesting that the retail hype has subsided in the pa...

ARB's price trajectory looks similar to MATIC after its market debut when MATIC rose 1,350% after facing a brutal selloff in its early days of trading. The price of Arbitrum (ARB) has dropped by nearly 20% a week after establishing its record high at $1.60 on March 23. However, the Ethereum layer-2 token looks set to resume its uptrend in the coming weeks. Polygon price fractal The cues for a bullish Arbitrum token could be traced back to its Ethereum L2 rival Polygon's market debut. MATIC started trading on Binance on April 26, 2019, at $0.0026 per token. MATIC/USD rallied nearly 300% to reach $0.0105 on the same day before wiping out 70% of those gains in a market correction by May 9, 2019. It regained its upside momentum afterward, rallying by nearly 1,350% to $0.045 on May 21, 2019.   MATIC/USDT four-hour price chart. Source: TradingView/Mac The price trajectory reflects a recurring phenomenon involving the launch of digital tokens with seemingly strong fundamental backin...

Bullish BTC traders are using excessive leverage, but bears’ reluctance to fight back could extend the current Bitcoin price rally. Bitcoin (BTC) price rallied over 12% on Feb. 15, marking the highest daily close in more than six months. Curiously, the movement happened while gold reached a 40-day low at $1,826, indicating some potential shift in investors' risk assessment for cryptocurrencies. A stronger than expected U.S. inflation report on Feb. 14 presented 5.6% growth year-over-year, followed by data showing resilient consumer demand caused traders to rethink Bitcoin's scarcity value. U.S. retail sales increased by 3% in January versus the previous month — the highest gain in almost two years. On-chain data indicates that the recent gains can be traced back to a mysterious institutional investor that started buying on Feb. 10. According to Lookonchain's data, nearly $1.6 billion in funds have flowed into the crypto market between Feb. 10 and Feb. 15. The analysis sh...

The SEC’s crackdown on Kraken has sent a shockwave through the crypto sector. Is this week’s correction a buy the dip opportunity or a sign of worse things to come? On Feb. 9, United States Securities and Exchange Commission (SEC) chair Gary Gensler explained why the regulator had cracked down on Kraken cryptocurrency exchange, forcing it to stop its crypto staking program for U.S. clients. This news may have rattled crypto investors and they sold aggressively. Bitcoin (BTC) crashed about 5% on Feb. 9 and several altcoins also followed suit. The fresh round of selling has traders wondering whether the bear market has resumed or if the dip should be interpreted as a buying opportunity. This question may be troubling to investors, but for now the correction looks to be a normal corrective phase where Cryptocurrencies give back some of the gains made in January. However, it would be prudent to wait for the correction to end and a bottom to be confirmed before considering fresh purchases....

Bitcoin remains stuck in a tight range but LTC, APE, ICP, and BIT are showing signs of starting a new up-move. Bitcoin’s (BTC) volatility remained subdued in the final few days of the last year, indicating that investors were in no hurry to enter the markets. Bitcoin ended 2022 near $16,500 and the first day of the new year also failed to ignite the markets. This suggests that traders remain cautious and on the lookout for a catalyst to start the next trending move. Several analysts remain bearish about Bitcoin’s near-term price action. David Marcus, CEO and founder of Bitcoin firm Lightspark, said in a blog post released on Dec. 30 that he does not see the crypto winter ending in 2023 and not even in 2024. He expects that it will take time to rebuild consumer trust but believes the current reset may be good for legitimate firms over the long term. Crypto market data daily view. Source: Coin360 The bearish calls are an indication that the sentiment remains negative but there is also ...