Are BTC HODLers losing faith in exchanges? Recent data suggests…

Lido’s market share declines as Coinbase enters the liquid staking market. Competitors offer better APR rates and declining network growth affects the Lido token. According to Delphi Digital’s recent data, Lido’s market share declined significantly over the last year. This can be attributed to the entry of Coinbase into the liquid staking derivatives market in June 2022. Prior to this, Lido held a market share of 85%, but this has now dropped to 73%.

Interest in ENS domain names remains at a minimum. The rally in ENS’ price since the year began has put many of its holders in profit. According to data from Dune Analytics, the interest in .eth domain registrations has remained low, with only 53,359 Ethereum Name Service (ENS) registrations recorded thus far in the current year.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. Ripple [XRP] formed a symmetrical triangle pattern on the three-hour chart. A patterned breakout on the upside could offer more gains. Ripple’s [XRP] recent rally slowed, ushering in...

UNI token may be overvalued based on the fee-to-market cap ratio. Bot activity on the protocol along with order flow toxicity increased. Based on token terminal data, it was observed that UNI, the native token of Uniswap, was trading at a 16.20x multiple to the annualized fees it generated. Uniswap...

Elon Musk’s Twitter plans on bringing payment services that could add support to crypto. Dogecoin registered a rise in its value following the report. Dogecoin (DOGE), Elon Musk’s go-t0 cryptocurrency, has seen a rise in its value over developments happening at Twitter. According to a report by Financial Times, Twitter has been designing software to bring in payments service on the platform. And, this platform could extend support to crypto.

Ethereum-based NFTs on OpenSea saw its highest monthly sales volume since August 2022. OpenSea saw increased activity in the last 30 days. With Blue Chip non-fungible tokens (NFTs) collections at the forefront, the year has so far seen a resurgence of interest in profile-picture (PFP) NFTs. Ethereum-based NFT sales have...

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. AXS posted 30% gains in the past week. It also recorded massive demand despite mounting selling pressure. Axie Infinity [AXS] has been recording impressive weekly performances. It posted...

Bitcoin’s MVRV ratio and NUPL have not yet hit a strong accumulation zone. The coin’s UTXO may need to break out of its resistance to sustain January’s momentum while U.S interest rates could also affect BTC’s demand. Bitcoin’s [BTC] 43% hike in January surely brought rays...

‘Overvalued’ Solana’s indicators seemed to indicate the arrival of market bears. On the contrary, SOL’s demand across the derivatives market increased. TK Ventures and CoinWire’s data revealed that Solana [SOL] is now the most overvalued blockchain. This was determined using the market capitalization/TVL metric. When a network’s market cap to TVL ratio is above 1.0, it means that the network is overvalued, which can result in a price correction. As Solana’s MKC/TVL value was 17.5, the probability of increased selling pressure can be considered to be high.

High hash rate and no network outages were indicative of a secured network. LTC dropped by 3.15% at press time, sparking fears of a strong pullback. Few other cryptocurrencies have performed as well as Litecoin [LTC] in 2022’s bear market. Since hitting the lows of June 2022, both the price and market cap have more than doubled in value at press time, data from CoinMarketCap showed.

Avalanche’s daily activity was impacted by native projects. The NFT market underperformed. According to a report provided by Messari, projects on Avalanche observed significant improvements in Q4 of the previous year. These improvements had a significant impact on the daily activity of Avalanche, leading to a rise in overall...

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. UNI chalked an ascending triangle with a potential bullish breakout. The altcoin recorded an uptick in open interest (OI) rates at press time. Uniswap’s [UNI] rally in January...

Aave V3 is live on Ethereum and has since seen increased activity. Buying momentum for AAVE is on a decline. Following unanimous support from its community members, leading decentralized lending and borrowing protocol Aave deployed its V3 iteration on the Ethereum network on 27 January. Since it launched on the...

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. DOT was neutral after a sharp drop on the 12-hour chart. A price reversal could happen if demand increases at the crucial support zone. The value of Polkadot...

BNB’s weekly report mentioned all the updated statistics of the network. Metrics remained in BNB’s favor but the technical indicators favored the bears. Binance Coin [BNB] recently published the latest edition of its weekly report, which highlighted all the major developments that happened in its ecosystem in the last seven days.

MATIC, worth $56 million, was transferred to a whale address before its price surged. Metrics and market indicators supported the bulls at press time. Polygon [MATIC] became a hot topic of discussion in the crypto space as its price pumped at an unprecedented rate. CoinMarketCap’s data revealed that MATIC registered double digit growth last week, which helped it re-enter the top 10 club. At press time, it was trading at $1.14, with a market capitalization of more than $9.9 billion.

According to research by the deVere Group, 82% of wealthy clientele have thought about investing in digital assets like Bitcoin in 2022. Studies show a rising interest in Bitcoin investments among millionaires. Despite 2018 being a tough year for cryptocurrencies, a new survey by financial advisory firm deVere Group found...

A look at how the upcoming FOMC meeting will influence the Shiba Inu demand. Bullish bias forming but investors still moving with caution in anticipation of final results. The Shiba Inu community is undoubtedly pleased with SHIB’s performance in January. But now that the month is coming to its conclusion, a sense of uncertainty has returned to the market, especially in regard to its performance in February.

BTC’s social dominance has grown tremendously since the year began. Its price might increase even more as bullish sentiment lingers in the market. The growth in the general cryptocurrency market since the commencement of the 2023 trading year has led to a rally in Bitcoin’s [BTC] dominance in the market. At 44.18% at press time, it has increased by 5% since 1 January.

The Bitcoin premium has reached 63% in Nigeria. Restrictions on cash withdrawals paired with a push towards a cashless economy led to an increase in demand for BTC. The recent effort of the Central Bank of Nigeria to push its citizens towards a cashless society has led to a sharp increase in the price of Bitcoin in the country.