Crypto markets remained flat on Tuesday, stabilizing after a weekend sell-off that saw majors like bitcoin (BTC) and ether (ETH) lose over 15% in value over the past week.
Among layer 1 blockchain tokens, Solana’s SOL and Polkadot’s DOT took hits of nearly 18% in the past week as investors took profits on August’s rallies. Dogecoin (DOGE) and shiba inu (SHIB) tokens slid 15% as meme coin hype generated by the likes of Dogechain waned, even as the network’s total value locked doubled in the past week to $9 million.
Matt Weller, head of research for Forex.com, told CoinDesk in an email that there was “little in the way of fundamental or macroeconomic news to drive the sell-off, but rather traders’ appetite for risk assets has simply collapsed across the board.”
Weller added bitcoin price charts showed the asset broke under its 50-day exponential moving average (EMA) last week, creating a bearish near-term bias for a potential retest of the “summer lows near $18,700” among market...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...