Author: Yeek.io

Cardano price has formed a double bottom pattern, potentially paving the way for an eventual recovery back above $1 in the weeks ahead, backed by bullish developments and on-chain strength. According to data from crypto.news, Cardano (ADA) rose to an intraday high of $0.74, up 25.5% in the last 7 days and 42% from its year-to-date low. As of press time, it held 3.9% gains over the past 24 hours with a market cap of $27 billion. ADA price gained traction today after Emurgo, one of Cardano’s founding teams, announced the launch of the Cardano Card, a new multi-functional payment…

Ethereum, the second-largest crypto asset, has been in a strong uptrend over the past week, rallying alongside the broader market. While much of the uptick has been tied to positive investor sentiment and favorable U.S. regulatory outlook, new data points to another key driver. According to a July 16 Matrixport report, nearly all of Ethereum’s recent upside is being driven by Asia-based traders. Out of the 20% ETH (ETH) has gained over the past month, 17 percent of that occurred during Asian trading hours. Ethereum’s demand by trading region | Source: Matrixport The data suggests that momentum in the asset’s price…

PayPal co-founder Peter Thiel recently bought a 9.1% stake in Fundstrat’s Ethereum Treasury company, Bitmine Immersion Technologies, according to a recent SEC filing. The filed SEC document revealed that Peter Thiel has acquired 9.1% of the total shares to BMNR. BMNR is the trading stock of BitMine Immersion Technologies, a crypto mining firm led by founder and CIO of Fundstrat Tom Lee. As of July 16, Peter Thiel now has shared voting power as well as shared dispositive power equal to the number of shares he holds, which is more than 5.09 million BMNR stocks. Peter Thiel joins a list…

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. For most of its history, decentralized finance and traditional finance have been at odds. Positioned as opposing forces, one claimed transparency, permissionless access, and composability, while the other relied on regulation, scale, and institutional trust.  But the confluence of finance and technology has never been a zero-sum game. The convergence is already underway. Institutional giants like BlackRock are experimenting with tokenized funds on public blockchains, while regulators across Asia and Europe are building policy frameworks for the…

Key Takeaways MemeCore dropped 27% on the 15th of July, testing a critical $0.39 support. While Funding Rates and Long/Short Ratio favor bulls, on-chain data shows outflows and distribution, hinting that the trend may soon flip. After a sensational 107% rally over the past week, MemeCore [M] showed its first signs of fatigue on the 15th of July. The memecoin dropped by 27% in 24 hours, at press time, bringing it to a critical juncture. It traded at a support zone that could determine whether a rebound is possible or if recent gains will be wiped out. MemeCore hanging by…

The crypto market slid lower on July 16 as rising U.S. inflation data dampened expectations of a Federal Reserve rate cut, while some investors locked in profits following recent gains. According to data from CoinGecko, the total crypto market capitalization fell to $3.78 trillion, down from around $3.91 trillion over the past 24 hours. Bitcoin (BTC) dropped from around $120,000 yesterday to a low of $116,000 earlier today. Ethereum (ETH) also slid below the $3,000 mark, while XRP (XRP) fell 5% from $3.02 to $2.78. Dogecoin (DOGE) took the biggest hit among major coins, tumbling 8%. Toncoin (TON), Litecoin (LTC),…

Aave is trading near a key resistance level after steady gains in recent weeks as on-chain metrics surge. At press time, Aave (AAVE) is priced at $329, up 6% over the past 24 hours and 18% over the last month. Despite this momentum, the token still trades about 50% below its all-time high of $661 set back in 2021. The recent price recovery has been supported by rising activity across the protocol. According to data from DefiLlama, Aave’s total value locked has now crossed the $30 billion mark for the first time, up nearly 57% from about $19 billion at…

Key Takeaways PENGU surged 14% as long interest and Funding Rates spiked. Can $0.015 hold as a new base for Pudgy Penguins? In a market drowning in red, Pudgy Penguins [PENGU] defied gravity, climbing 14% in 24 hours, at press time. While many might be quick to dismiss it as meme-driven noise, several underlying data points suggest that this could be more than just a fleeting spike. Longs pile showing buyers are committed One of the more telling signs of strength is PENGU’s Funding Rate, which has climbed above its weekly average. In simpler terms, traders are paying a premium…

Cantor Fitzgerald is reportedly in talks with Adam Back co-founded blockchain company Blockstream, to acquire over $3 billion in Bitcoin through a SPAC deal. According to multiple news reports citing unnamed sources, Blockstream is expected to contribute up to 30,000 Bitcoin to Cantor Equity Partners 1, a special purpose acquisition company (SPAC) that raised $200 million in January. In return, Blockstream would receive shares in the Cantor-backed vehicle, which is set to be renamed BSTR Holdings. Notably, the deal is close to finality and could be signed by the end of this week, although sources say terms are still subject…

The native token of Solana-based meme coin platform Pump.fun surged nearly 20% on July 16, briefly reaching a new all-time high following the launch of a large-scale buyback campaign. After reaching a high of $0.00681, PUMP is trading at about $0.0063 at the time of writing, up about 14% on the 24-hour timeframe. The rally was driven by news that Pump.fun has begun buying back tokens using platform-generated fee revenue. According to on-chain data shared by Lookonchain, the platform allocated 187,770 Solana (SOL), worth about $30.6 million, from its fee reserves to fund the buyback. So far, 118,351 SOL, about…