Features Crypto News by Thebittimes.Com

Decentralized finance (DeFi) activity on Ethereum is picking up momentum based mainly on how gas fees have been trending in the first three weeks of November, data from Kaiko  shows . Even so, despite Uniswap (UNI) spearheading the revival, looking at the gas attributed to its activities over this period, UNI prices remain stagnant below $5.6, with bulls failing to edge higher, breaking to new 2023 highs. Ethereum gas fees rising | Source: Kaiko Ethereum Gas Fees Rising, DeFi Revival? According to Kaiko, a blockchain analytics platform, the average gas fees on Ethereum hit multi-month highs last week. The platform expressly notes that the primary driver has been Uniswap’s activities, reading from the rising transaction volumes from meme coins, including GROK. This, in turn, pushed block space demand higher, increasing gas fees. Related Reading: Global Banks Are Betting Big On XRP, Report Shows Gas fees remain volatile but generally higher in the ...

The cryptocurrency bull run has faded recently as many investors take profits and wait for the next catalyst.  Bitcoin price has retreated from an all-time high of over $73,000 to $67,000. Similarly, Ethereum token has plunged from over $4,000 to $3,320. As a result, the total market cap of all digital coins has dropped from almost $3 trillion to $2.6 trillion. Despite these challenges,  BitBot has continued its bullish momentum as its token sale jumped to over $2 million. Why crypto bull run has faded There are two main reasons why the crypto bull run has faded in the past few weeks. First, there are signs that the much-anticipated rate cut by the Federal Reserve will not happen any time soon. This view was supported by Friday’s strong job numbers. According to the Bureau of Labor Statistics (BLS), the  American economy added over 303k jobs in March, higher than the median estimate of 212k. The economy has added jobs for 36 straight m...

Jul 19, 2023 at 06:53 // Price Author Coin Idol Cryptocurrency analysts of Coinidol.com report, Bitcoin (BTC) price remains range bound, breaking below the 21-day simple moving average. This is an indication of weakness in the upside momentum . Bitcoin price long-term forecast: fluctuating Nevertheless, the upward movement was slowed down by the resistance at $30,400 after the price decline on July 14. Bitcoin price is currently fluctuating in a small range between $30,000 and $30,400, and if the price falls below the existing support, selling press...