Bitcoin VS Inflation
The U.S. unseasonably adjusted Consumer Price Index in August was 8.3%, which is a higher than expected consensus of 8.1%. This index is a key measurement of country's inflation, which has tremendous effect on global financial markets.
Bitcoin is believed to be kind of an inflation hedge, such as gold. However, lately it has not performed well as a hedge due to macro factors. The main reason is the high correlation between Bitcoin (and crypto overall) and traditional financial markets as Bitcoin mostly follows significant moves of Wall Street. The same can be said for today, when the CPI index was higher than expected, BTC fell by 5.44% in the first 30 minutes after the announcement (the moment is marked on the chart with the blue arrow), as well as many tech stocks falling at pre-market too. Usually, if the CPI is lower than the consensus forecast, the Bitcoin and broader market react positively, but a CPI lower than expectations most likely drives markets lower (since high inflation usually followed by increase of rates). Discover how the announcement of inflation data affected Bitcoin's price.
👉https://cryptorank.io/price/bitcoin
The U.S. unseasonably adjusted Consumer Price Index in August was 8.3%, which is a higher than expected consensus of 8.1%. This index is a key measurement of country's inflation, which has tremendous effect on global financial markets.
Bitcoin is believed to be kind of an inflation hedge, such as gold. However, lately it has not performed well as a hedge due to macro factors. The main reason is the high correlation between Bitcoin (and crypto overall) and traditional financial markets as Bitcoin mostly follows significant moves of Wall Street. The same can be said for today, when the CPI index was higher than expected, BTC fell by 5.44% in the first 30 minutes after the announcement (the moment is marked on the chart with the blue arrow), as well as many tech stocks falling at pre-market too. Usually, if the CPI is lower than the consensus forecast, the Bitcoin and broader market react positively, but a CPI lower than expectations most likely drives markets lower (since high inflation usually followed by increase of rates). Discover how the announcement of inflation data affected Bitcoin's price.
👉https://cryptorank.io/price/bitcoin
👍17🤔5🤯4
📈Market Overview
Bitcoin fell further after the September 13 Wall Street open as the dust settled on unexpectedly high United States inflation. Bitcoin price gave up more than 50% of its recent weekend gains with a 9.3% pullback to $20,320.
The Top-10 cryptocurrencies are traded in red zone: Solana -12.7%, Polkadot -6.41%, Ethereum -5.62%.
Market capitalization: $1.05T (-6.63%)
The BTC dominance: 37.01% (-2.86%)
Fear & Greed Index: 27 (Fear)
https://cryptorank.io/heatmaps
👉 Top Gainers
Nervos Network (CKB) +27.2%
Neblio (NEBL) +22.5%
Evmos (EVMOS) +17%
👉 Top Losers
Ambrosus (AMB) -23.7%
Pundi X (PUNDIX) -22.8%
Aleph.im (ALEPH) -22.6%
BTC Futures
Aggregated Volume — $63.6B
Aggregated Open Interest — $10.5B
👉 Derivatives Market Analytics
Bitcoin fell further after the September 13 Wall Street open as the dust settled on unexpectedly high United States inflation. Bitcoin price gave up more than 50% of its recent weekend gains with a 9.3% pullback to $20,320.
The Top-10 cryptocurrencies are traded in red zone: Solana -12.7%, Polkadot -6.41%, Ethereum -5.62%.
Market capitalization: $1.05T (-6.63%)
The BTC dominance: 37.01% (-2.86%)
Fear & Greed Index: 27 (Fear)
https://cryptorank.io/heatmaps
👉 Top Gainers
Nervos Network (CKB) +27.2%
Neblio (NEBL) +22.5%
Evmos (EVMOS) +17%
👉 Top Losers
Ambrosus (AMB) -23.7%
Pundi X (PUNDIX) -22.8%
Aleph.im (ALEPH) -22.6%
BTC Futures
Aggregated Volume — $63.6B
Aggregated Open Interest — $10.5B
👉 Derivatives Market Analytics
👍12😱2🤯1
The Latest Breaking News 📣
- Charles Schwab, Citadel, Fidelity Digital launch digital asset exchange
- South Korea seeks arrest of Terraform Labs founder Do Kwon
- Opera crypto browser integrates MetaMask ahead of Ethereum Merge
- Crypto lender Maker turns to stETH to reduce USDC influence
- SWIFT financial-messaging system pilots blockchain project
👉 https://cryptorank.io/news
- Charles Schwab, Citadel, Fidelity Digital launch digital asset exchange
- South Korea seeks arrest of Terraform Labs founder Do Kwon
- Opera crypto browser integrates MetaMask ahead of Ethereum Merge
- Crypto lender Maker turns to stETH to reduce USDC influence
- SWIFT financial-messaging system pilots blockchain project
👉 https://cryptorank.io/news
👍11🔥1
Bitcoin Mining Difficulty Rises To New ATH
Despite Bitcoin's price falling after the announcement of CPI data, its mining difficulty has fully recovered and has reached a new all-time high of 32.05T. Since the beginning of the year, BTC mining difficulty has grown by 32%. At the same time, Bitcoin 30D Mean Hash Rate has reached a new ATH of 221.83M TH/s.
👉https://cryptorank.io/price/bitcoin
Despite Bitcoin's price falling after the announcement of CPI data, its mining difficulty has fully recovered and has reached a new all-time high of 32.05T. Since the beginning of the year, BTC mining difficulty has grown by 32%. At the same time, Bitcoin 30D Mean Hash Rate has reached a new ATH of 221.83M TH/s.
👉https://cryptorank.io/price/bitcoin
👍10🤔3
Assets Under Management: DeFi TVL vs Major US Banks
The total value locked in DeFi is still relatively small compared to top US banks, and significantly more volatile. Nevertheless, DeFi TVL is almost equal in terms of AUM to the 33th largest US bank, while TVL of the largest projects, Aave and Maker DAO, are equal to the 130th and 149th banks' AUM respectively.
👉 https://cryptorank.io/categories/defi
The total value locked in DeFi is still relatively small compared to top US banks, and significantly more volatile. Nevertheless, DeFi TVL is almost equal in terms of AUM to the 33th largest US bank, while TVL of the largest projects, Aave and Maker DAO, are equal to the 130th and 149th banks' AUM respectively.
👉 https://cryptorank.io/categories/defi
👍10🤔3🔥1
Bitcoin and Traditional Financial Assets Performance In 2022
During the market downturn, commodities, especially natural gas and Brent oil, showed better performance than risky assets. On the other hand, gold, which is considered to be an inflation hedge, also showed poor performance. As is supposed to be, Dow Index (primarily industrial companies) showed a slightly better performance than S&P 500 (includes a variety of companies) and Nasdaq indices (tech-heavy index).
Bitcoin showed much worse performance due to an increased correlation with S&P 500 (which can be seen on the chart). However, it is worth mentioning that during bullish years prior to 2021 Bitcoin showed significantly better performance than other assets.
👉https://cryptorank.io/performance
During the market downturn, commodities, especially natural gas and Brent oil, showed better performance than risky assets. On the other hand, gold, which is considered to be an inflation hedge, also showed poor performance. As is supposed to be, Dow Index (primarily industrial companies) showed a slightly better performance than S&P 500 (includes a variety of companies) and Nasdaq indices (tech-heavy index).
Bitcoin showed much worse performance due to an increased correlation with S&P 500 (which can be seen on the chart). However, it is worth mentioning that during bullish years prior to 2021 Bitcoin showed significantly better performance than other assets.
👉https://cryptorank.io/performance
🤔6👍5❤3🥰1
Ethereum Inflow to Exchanges Spiked Before the Merge
In less than a hour before merge, the total number of ETH held in centralized exchange wallets has jumped to a two-month high. It is worth noting what coins have been moved to exchanges to collect potential Ethereum fork token ETHPOW
👉https://cryptorank.io/price/ethereum
In less than a hour before merge, the total number of ETH held in centralized exchange wallets has jumped to a two-month high. It is worth noting what coins have been moved to exchanges to collect potential Ethereum fork token ETHPOW
👉https://cryptorank.io/price/ethereum
👍13🥰2
📈Market Overview
On September 15 Ethereum has activated The Merge and transactions are now being processed under proof of stake. The price of ETH reacted with an increase of +2.5% after the announcement. Bitcoin has strengthened slightly above the $20,000 price level over the past day, without showing significant activity.
The Top-10 cryptocurrencies are traded in different directions: Solana +3.21%, Ethereum +2.1%, Cardano +1.49%.
Market capitalization: $1.04T (-0.75%)
The BTC dominance: 36.89% (-0.12%)
Fear & Greed Index: 28 (Fear)
https://cryptorank.io/heatmaps
👉 Top Gainers
Celsius (CEL) +176%
Viberate (VIB) +62%
Firo (FIRO) +46.6%
👉 Top Losers
Ambrosus (AMB) -28.4%
Phoenix Global (PHB) -27.8%
Nervos Network (CKB) -19.5%
BTC Futures
Aggregated Volume — $36.4B
Aggregated Open Interest — $11.1B
👉 Derivatives Market Analytics
On September 15 Ethereum has activated The Merge and transactions are now being processed under proof of stake. The price of ETH reacted with an increase of +2.5% after the announcement. Bitcoin has strengthened slightly above the $20,000 price level over the past day, without showing significant activity.
The Top-10 cryptocurrencies are traded in different directions: Solana +3.21%, Ethereum +2.1%, Cardano +1.49%.
Market capitalization: $1.04T (-0.75%)
The BTC dominance: 36.89% (-0.12%)
Fear & Greed Index: 28 (Fear)
https://cryptorank.io/heatmaps
👉 Top Gainers
Celsius (CEL) +176%
Viberate (VIB) +62%
Firo (FIRO) +46.6%
👉 Top Losers
Ambrosus (AMB) -28.4%
Phoenix Global (PHB) -27.8%
Nervos Network (CKB) -19.5%
BTC Futures
Aggregated Volume — $36.4B
Aggregated Open Interest — $11.1B
👉 Derivatives Market Analytics
👍7🔥3👏3
The Latest Breaking News 📣
- Ethereum activates The Merge as it shifts to proof of stake
- BNB Chain partners Google Cloud to accelerate Web3 growth
- Two Sigma Ventures raises $400 million across its two funds
- OpenSea will launch NFT rarity protocol OpenRarity next week
- SEC sues Chicago Crypto Capital for unregistered securities offering
👉 https://cryptorank.io/news
- Ethereum activates The Merge as it shifts to proof of stake
- BNB Chain partners Google Cloud to accelerate Web3 growth
- Two Sigma Ventures raises $400 million across its two funds
- OpenSea will launch NFT rarity protocol OpenRarity next week
- SEC sues Chicago Crypto Capital for unregistered securities offering
👉 https://cryptorank.io/news
🔥7👍4🤔3
Ethereum Mining Year on Year Overview
Since the launch of the network, Ethereum miners have mined over 54.8M ETH or $35.5B. Today, Ethereum has completed the Merge, much anticipated transfer to Proof of Stake, after which mining difficulty and hash rate has now dropped to zero. Mining of Ethereum had been a very profitable activity, and in 2021, when the price of ETH spiked, miners earned about $18.4B in total, which is almost a half of the whole revenue over the past 8 years. This new upgrade now means that Ethereum has become more energy efficient.
Now, ETH miners have several options. One of them could be to switch to other Proof of Work coins, such as Ethereum Classic, Ravencoin, Ergo, and others. Another option is to stick to the Ethereum PoW Fork, which is expected to be launched soon. However, these coins are in much less demand than the original Ethereum, and they offer substantially lower profit margins. In addition, the declining price of hardware makes it even harder to recover costs of recently bought mining rigs. The last option is to switch to staking, which might appear to be less profitable, but nonetheless could prove to be a sustainable option.
👉https://cryptorank.io/price/ethereum
Since the launch of the network, Ethereum miners have mined over 54.8M ETH or $35.5B. Today, Ethereum has completed the Merge, much anticipated transfer to Proof of Stake, after which mining difficulty and hash rate has now dropped to zero. Mining of Ethereum had been a very profitable activity, and in 2021, when the price of ETH spiked, miners earned about $18.4B in total, which is almost a half of the whole revenue over the past 8 years. This new upgrade now means that Ethereum has become more energy efficient.
Now, ETH miners have several options. One of them could be to switch to other Proof of Work coins, such as Ethereum Classic, Ravencoin, Ergo, and others. Another option is to stick to the Ethereum PoW Fork, which is expected to be launched soon. However, these coins are in much less demand than the original Ethereum, and they offer substantially lower profit margins. In addition, the declining price of hardware makes it even harder to recover costs of recently bought mining rigs. The last option is to switch to staking, which might appear to be less profitable, but nonetheless could prove to be a sustainable option.
👉https://cryptorank.io/price/ethereum
👍11🤔4
Binance Labs Boosts Strategic Investment in Aptos Labs
Binance Labs, the venture capital arm and accelerator of Binance, has made a strategic investment in Aptos Labs, a next generation layer-1 blockchain built with safety and user experience in mind. This is a follow-on investment that comes after the first round of funding announced in March this year.
👉 https://cryptorank.io/ico/aptos
Binance Labs, the venture capital arm and accelerator of Binance, has made a strategic investment in Aptos Labs, a next generation layer-1 blockchain built with safety and user experience in mind. This is a follow-on investment that comes after the first round of funding announced in March this year.
👉 https://cryptorank.io/ico/aptos
👍18🤔3
Strong Performance for Proof of Work Coins 🚀
The majority of Proof of Work coins have been demonstrating strong performances on a 7 day scale due to the Merge. Since miners are switching from Ethereum to alternatives that support GPU mining, prices and hashrates of these coins showed a significant increase, the top gainers are Ravencoin +75.9%, BEAM +45.3%, and Firo +33.1%. Some of them, Ethereum Classic and Ergo in particular, had already benefited from this event right after the announcement of the Merge date.
👉 https://cryptorank.io/tags/proof-of-work
The majority of Proof of Work coins have been demonstrating strong performances on a 7 day scale due to the Merge. Since miners are switching from Ethereum to alternatives that support GPU mining, prices and hashrates of these coins showed a significant increase, the top gainers are Ravencoin +75.9%, BEAM +45.3%, and Firo +33.1%. Some of them, Ethereum Classic and Ergo in particular, had already benefited from this event right after the announcement of the Merge date.
👉 https://cryptorank.io/tags/proof-of-work
👍9🔥3
Top 10 Fundraising Rounds Recently Added on CryptoRank
Doodles leads, followed by Community Labs, Diamond Standard and Revolving Games. For more insights, visit Funding Rounds page.
👉https://cryptorank.io/funding-rounds
Doodles leads, followed by Community Labs, Diamond Standard and Revolving Games. For more insights, visit Funding Rounds page.
👉https://cryptorank.io/funding-rounds
🔥12❤2👍1
📈Market Overview
Uncertain BTC price action continues as Ethereum trends downward despite the successful Merge. Data from CryptoRank.io showed Bitcoin spiking below $20,000 again overnight to recover marginally above the boundary for a brief period. Altcoin markets meanwhile were led by the story-that-wasn’t on Ethereum, which failed to react positively to the Merge. ETH is down nearly 8% over the last 24 hours, circling $1,470 amid significant volatility.
The Top-10 cryptocurrencies are traded in red zone: Ethereum -7.77%, XRPL -3.86%, Polkadot -2.18%.
Market capitalization: $1.01T (-3.23%)
The BTC dominance: 37.32% (+1.39%)
Fear & Greed Index: 20 (Extreme Fear)
https://cryptorank.io/heatmaps
👉 Top Gainers
Phoenix Global (PHB) +30.1%
Voyager Token (VGX) +20.9%
Numbers Protocol (NUM) +19.7%
👉 Top Losers
Celsius (CEL) -60.3%
Hifi Finance (MFT) -27.3%
Firo (FIRO) -25.7%
BTC Futures
Aggregated Volume — $29.9B
Aggregated Open Interest — $11.1B
👉 Derivatives Market Analytics
Uncertain BTC price action continues as Ethereum trends downward despite the successful Merge. Data from CryptoRank.io showed Bitcoin spiking below $20,000 again overnight to recover marginally above the boundary for a brief period. Altcoin markets meanwhile were led by the story-that-wasn’t on Ethereum, which failed to react positively to the Merge. ETH is down nearly 8% over the last 24 hours, circling $1,470 amid significant volatility.
The Top-10 cryptocurrencies are traded in red zone: Ethereum -7.77%, XRPL -3.86%, Polkadot -2.18%.
Market capitalization: $1.01T (-3.23%)
The BTC dominance: 37.32% (+1.39%)
Fear & Greed Index: 20 (Extreme Fear)
https://cryptorank.io/heatmaps
👉 Top Gainers
Phoenix Global (PHB) +30.1%
Voyager Token (VGX) +20.9%
Numbers Protocol (NUM) +19.7%
👉 Top Losers
Celsius (CEL) -60.3%
Hifi Finance (MFT) -27.3%
Firo (FIRO) -25.7%
BTC Futures
Aggregated Volume — $29.9B
Aggregated Open Interest — $11.1B
👉 Derivatives Market Analytics
👍6
The Latest Breaking News 📣
- Binance Labs boosts strategic investment in Aptos Labs
- ETHPoW goes live after Ethereum's proof-of-stake Merge
- Fortnite creator's Epic Games Store launches first NFT game
- Sei Labs to launch Nitro, a gateway between Solana and Cosmos
- Magic Eden defends launch of NFT royalty enforcement tool
👉 https://cryptorank.io/news
- Binance Labs boosts strategic investment in Aptos Labs
- ETHPoW goes live after Ethereum's proof-of-stake Merge
- Fortnite creator's Epic Games Store launches first NFT game
- Sei Labs to launch Nitro, a gateway between Solana and Cosmos
- Magic Eden defends launch of NFT royalty enforcement tool
👉 https://cryptorank.io/news
👍3🔥3
Major VC Fund Portfolio Gainers 📈
Discover the best performing projects from major VC funds from the past 7 days.
👉https://cryptorank.io/funds
👉https://cryptorank.io/performance
Discover the best performing projects from major VC funds from the past 7 days.
👉https://cryptorank.io/funds
👉https://cryptorank.io/performance
👍10
How Overvalued Are Top Blockchains?
Market Cap to Revenue (annualized total fees) ratio compares a project's valuation to the fees that it generates. A low ratio indicates that the protocol is undervalued, and a high ratio the opposite.
Among major smart contract platforms, BNB Chain and Ethereum have the lowest ratios, mostly due to high usage of the networks (or, higher fees), even despite having the highest market cap among the mentioned blockchains. Algorand, on the other hand, has the highest ratio due to decent valuation, but low fees and moderate number of transactions.
👉https://cryptorank.io/tags/smart-contract-platform
Market Cap to Revenue (annualized total fees) ratio compares a project's valuation to the fees that it generates. A low ratio indicates that the protocol is undervalued, and a high ratio the opposite.
Among major smart contract platforms, BNB Chain and Ethereum have the lowest ratios, mostly due to high usage of the networks (or, higher fees), even despite having the highest market cap among the mentioned blockchains. Algorand, on the other hand, has the highest ratio due to decent valuation, but low fees and moderate number of transactions.
👉https://cryptorank.io/tags/smart-contract-platform
🔥12
📈Market Overview
Bitcoin attempted to violate local lows on September 16 as the latest cross-crypto downtrend intensified. Bitcoin exchanges have seen huge volumes this month as price declines lead to renewed interest in trading. Data from Cryptorank.io showed BTC approaching $19,800 at the time of writing, with buyer support just avoiding a further drop.
The Top-10 cryptocurrencies are traded in different directions: XRPL +7.57%, Cardano +1.27%, Ethereum -2.85%.
Market capitalization: $1.01T (-0.25%)
The BTC dominance: 37.51% (+0.79%)
Fear & Greed Index: 22 (Extreme Fear)
https://cryptorank.io/heatmaps
👉 Top Gainers
Viberate (VIB) +170%
OAX (OAX) +103%
Wabi (WABI) +101%
👉 Top Losers
JPEG'd (JPEG) -29.3%
Phoenix Global (PHB) -18.7%
Neblio (NEBL) -18.6%
BTC Futures
Aggregated Volume — $28.7B
Aggregated Open Interest — $11.2B
👉 Derivatives Market Analytics
Bitcoin attempted to violate local lows on September 16 as the latest cross-crypto downtrend intensified. Bitcoin exchanges have seen huge volumes this month as price declines lead to renewed interest in trading. Data from Cryptorank.io showed BTC approaching $19,800 at the time of writing, with buyer support just avoiding a further drop.
The Top-10 cryptocurrencies are traded in different directions: XRPL +7.57%, Cardano +1.27%, Ethereum -2.85%.
Market capitalization: $1.01T (-0.25%)
The BTC dominance: 37.51% (+0.79%)
Fear & Greed Index: 22 (Extreme Fear)
https://cryptorank.io/heatmaps
👉 Top Gainers
Viberate (VIB) +170%
OAX (OAX) +103%
Wabi (WABI) +101%
👉 Top Losers
JPEG'd (JPEG) -29.3%
Phoenix Global (PHB) -18.7%
Neblio (NEBL) -18.6%
BTC Futures
Aggregated Volume — $28.7B
Aggregated Open Interest — $11.2B
👉 Derivatives Market Analytics
👍4
EthereumPoW (ETHW) Listed on AscendEX
EthereumPoW (ETHW) is now available for trading on AscendEX, as of Sep 15. The supported trading pair is ETHW/USDT. ETHW was be airdopped 1:1 to AsecendEX holders of ETH.
👉https://twitter.com/_AscendEX/status/1570526236799291392
EthereumPoW (ETHW) is now available for trading on AscendEX, as of Sep 15. The supported trading pair is ETHW/USDT. ETHW was be airdopped 1:1 to AsecendEX holders of ETH.
👉https://twitter.com/_AscendEX/status/1570526236799291392
Trending NFT Collections By 7D Volume
Promising technology of Non-Fungible Tokens drives mass adoption of cryptocurrencies. Discover the most popular NFT collections by trading volume from the past 7 days for more insights.
👉https://cryptorank.io/categories/non-fungible-tokens-nft
Promising technology of Non-Fungible Tokens drives mass adoption of cryptocurrencies. Discover the most popular NFT collections by trading volume from the past 7 days for more insights.
👉https://cryptorank.io/categories/non-fungible-tokens-nft
👍5🔥1