This week has been quite volatile with the DeFi market slowing down considerably last week and the airdrop of UNI tokens (to users that previously staked some of their tokens on the Uniswap DEX), leading to massive spikes in ETH gas fees (seen as high as 900 gwei +) and pushing up $ETH prices along with it.
$ETH currently at 387 on overbought RSI levels up 6% over the past week. $ETH has seen some large volatility with its traded range this week has been within $39 or a 10% spread. Physical traded volume at 14.7B …
As we end the week, $BTC appears to have found at least a temporary floor as its price action suggests as it is forming a rounded bottom and a higher high, and possibly a higher low, in lower time frames. Immediate support lies in the $10,000 mark, while the next test for bulls, if $BTC can move higher in the next couple of days, is in the $10,800 zone. Failure to hold the current support might mean bears could take $BTC down to $9,300, the highest volume node of the past 18 months.
$BTC is now moving up from oversold…
As we end the week, we’ve seen global market sell offs in both equities and the digital asset space wiping out early gains.
There are a number of factors that may be contributing to the sea of red that’s flooded the markets, and taken market cap to $338B (down 10% overnight):
A coupling with equity market movements given the peaks we’d seen in both.
Mainstream investors are turning their backs on DeFi with high gas fees that make it hard to justify risk/volatility against potential ROI
Overdue DeFi cooling off with profit taking action for early adopters
FUD selling (FOMO…
The markets went through another sell off session that saw the global digital asset market class drop by 2% to 362B . Market cap reached high of 380B just eleven days ago when $BTC rose to 12,500.
$BTC physical coins trading at 11370, just above the neutral RSI levels and on the upper Bollinger bands with the last 3 hours up 1% ($118). Range bound between 11,300 and 11,530 with physical traded volumes hovering around 21B, down 2.6% in the past 24 hours.
$BTC Futures saw traded volumes increase by +33% back slightly below 20B aggregated across top exchanges…
Overall digital asset market cap increasing by 1.2% to 3.74B,
2. Physical volumes at 43.7B, down 7.5% overnight. Trading range between 200, trading at neutral RSI levels right now on the middle Bollinger bands with psychological resistance at 12,000.
3. BTC futures didn’t fare any better with aggregated volumes falling back below 10B, a -50% decrease compared to the past 3 days. No major liquidations to note. plateauing around 5B aggregated across top exchanges.
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Yes, you spoke it and we heard it! We are excited to announce new features which were demanded by our community to make their trading experience better. At present these features are live for Binance exchange users. Other exchanges will follow soon. Interestingly we have introduced new features both on our web version as well as mobile app which are explained one by one.
This July onwards, your favourite trading platform, Koinfox is going Premium. A lot of our supporters were waiting, when they will be able to start using KFTs they earned as part of their initial support to the platform.
While there are lot of exciting features on the platform, we do understand that not every feature is relevant to everyone. Therefore, we have created multiple plans to suit the needs to different types and categories of users on Koinfox platform. One can easily change their subscription plans applicable to their accounts from the next subscription cycle.
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