Whoever coined the phrase “sell in May and go away” had brilliant insight and the performance of crypto and stock markets over the past three weeks has shown that the expression still rings true. May 20 has seen a pan selloff across all asset classes, leaving traders with few options to escape the carnage as…
Cosmos (ATOM) emerges as the biggest gainer among the top cryptocurrencies this May 20, brushing aside the fears about its association with Terra (LUNA), an algorithmic stablecoin project whose market valuation fell by 99% last week. Cosmos TVL down from $10M to $155K ATOM’s price increased by over 10% intraday to almost $12. The gains…
The dramatic story of the Terra (LUNA) crash — referred to by some as the Lehman Brothers of crypto — has taken yet another remarkable turn as legal documents reveal the liquidation of two South Korean offices and the dissolution of the Terraform Labs Korea corporation in the days preceding the dual currency collapse. Initially reported by…
Avalanche (AVAX) has emerged as one of the worst-performing cryptocurrencies among the top-ranking tokens in the last 24 hours, partially due to fears connected to Terra (LUNA) and its a near-dead UST algorithmic stablecoin project. Avalanche price dips amid Terra’s tax evasion FUD AVAX’s price plunged by nearly 14% between May 18, where it traded…
The past thirty days have been an extremely bearish time for cryptocurrencies. The sector’s aggregate market capitalization plunged 33% to $1.31 trillion and Solana’s (SOL) downfall has been even more brutal. Currently, SOL has seen a 50% correction and trades at $51. Solana/USD price at Coinbase (blue) vs. altcoin capitalization (orange). Source: TradingView The network…
Technical analysis suggests that a recent uptrend in the price of Aave (AAVE) is showing signs of exhaustion based on early development of a classic bearish reversal pattern. Is AAVE headed to $70? Dubbed a “rising wedge,” the pattern surfaces when the price rises inside a range defined by two ascending, converging trendlines. As it…