{"id":38050,"date":"2022-12-14T01:41:50","date_gmt":"2022-12-14T01:41:50","guid":{"rendered":"http:\/\/egrowonline.com\/?p=38050"},"modified":"2022-12-14T01:41:50","modified_gmt":"2022-12-14T01:41:50","slug":"bitcoin-ethereum-dogecoin-move-up-in-defiance-of-binances-outflow-troubles-analyst-says-this-is-what-will-it-take-for-btc-rally-to-continue-bitcoin-btc-usd-ethereum-eth-usd-dogec","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=38050","title":{"rendered":"Bitcoin, Ethereum, Dogecoin Move Up In Defiance Of Binance’s Outflow Troubles \u2014 Analyst Says This Is What Will It Take For BTC Rally To Continue – Bitcoin (BTC\/USD), Ethereum (ETH\/USD), Dogecoin (DOGE\/USD)"},"content":{"rendered":"


\n<\/p>\n

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Major coins remained firmly in the green despite the largest spot exchange facing a run on deposits on Tuesday. The global cryptocurrency<\/a> market cap rose 2.1% to $869.5 billion at 7:19 p.m. EST.<\/p>\n

\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n
Price Performance Of Major Coins<\/caption>\n

<\/p>\n

Coin<\/th>\n

<\/p>\n

24-hour<\/th>\n

<\/p>\n

7-day<\/th>\n

<\/p>\n

Price<\/th>\n


\n\t\t<\/tr>\n

\n\t<\/thead>\n

<\/p>\n

Bitcoin<\/strong> BTC\/USD<\/span><\/td>\n

<\/p>\n

3.4%<\/td>\n

<\/p>\n

4.1%<\/td>\n

<\/p>\n

$17,791.93<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

Ethereum<\/strong> ETH\/USD<\/span><\/td>\n

<\/p>\n

3.7%<\/td>\n

<\/p>\n

4.1%<\/td>\n

<\/p>\n

$1,322.10<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

Dogecoin<\/strong> DOGE\/USD<\/span><\/td>\n

<\/p>\n

0.1%<\/td>\n

<\/p>\n

-8.9%<\/td>\n

<\/p>\n

$0.09<\/td>\n


\n\t\t<\/tr>\n


\n\t<\/tbody>\n


\n<\/table>\n<\/figure>\n

\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n
Top 24-Hour Gainers (Data via CoinMarketCap)<\/caption>\n

<\/p>\n

Cryptocurrency<\/th>\n

<\/p>\n

24-Hour % Change (+\/-)<\/th>\n

<\/p>\n

Price<\/th>\n


\n\t\t<\/tr>\n

\n\t<\/thead>\n

<\/p>\n

Toncoin<\/strong> (STX)<\/td>\n

<\/p>\n

+11.6%<\/td>\n

<\/p>\n

$2.34<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

OKB<\/strong> (OKB)<\/td>\n

<\/p>\n

+8.6%<\/td>\n

<\/p>\n

$22.96<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

Fantom<\/strong> (FTM)<\/td>\n

<\/p>\n

+6.2%<\/td>\n

<\/p>\n

\u200b\u200b$0.25<\/td>\n


\n\t\t<\/tr>\n


\n\t<\/tbody>\n


\n<\/table>\n<\/figure>\n

See Also: <\/em>4 Best Binance Alternatives In 2022<\/em><\/a><\/p>\n

Why It Matters: <\/strong>On Tuesday, Binance<\/strong> temporarily stopped<\/a> USD Coin<\/strong> (USDC) withdrawals as it conducted a \u201ctoken swap.\u201d This happened as investors were spooked about the Changpeng Zhao<\/strong>-led exchange\u2019s stability.<\/p>\n

Binance’s Netflow over the last seven days was negative $3.7 billion, according to data analytics platform Nansen. An outflow of $8.8 billion was registered in the period while the inflow was at $5.1 billion.<\/p>\n

\n

<\/p>\n

Binance Netflow 7D ($) -3,660,311,347<\/p>\n

8,783,380,428 – Outflow

\n5,123,069,081 – Inflow<\/p>\n

Exchange Flows dashboard https:\/\/t.co\/CYrBQLryQ0<\/a> pic.twitter.com\/vV6vcqoWKK<\/a><\/p>\n


\n\u2014 Nansen (@nansen_ai) <\/a>December 13, 2022<\/a><\/p><\/blockquote>\n<\/div>\n

Zhao said that users who wish to withdraw money from Binance are looking to convert the stablecoin PAX<\/strong> (USDP) and Binance\u2019s BUSD<\/strong> (BUSD) into USDC.<\/p>\n

Meanwhile, stablecoin Tether<\/strong> (USDT) revealed that it helped Binance conduct a chain swap in which 3 billion USDT will be transferred<\/a> from the Tron<\/strong> (TRX) network to the Ethereum<\/strong> (ETH) network.<\/p>\n

The transaction was conducted as Binance attempted to shift USDT balances from its cold wallets on Tron to Ethereum, according to Tether CTO Paolo Ardoino.<\/strong><\/p>\n

Sam Bankman-Fried<\/strong>, the founder of the bankrupt cryptocurrency exchange FTX<\/strong> was denied bail in the Bahamas and charged by U.S. prosecutors with fraud and for violating campaign finance laws, reported Reuters.<\/p>\n

\u201cTo the amazement of many crypto watchers, Bitcoin continues to hold the $17,000 region,\u201d said Edward Moya<\/strong>, a senior market analyst with OANDA.<\/p>\n

Bitcoin and other risk assets rose on Tuesday after headline consumer price inflation came in at 7.1% in November down from 7.7% in October. The November reading was below economists’ average\u00a0estimate<\/a>\u00a0of 7.3%.\u00a0<\/p>\n

\u201cThe Fed might not have to take rates to 5.00% or higher and that is surprising news for stock traders. \u200bFed tightening is looking like it will just need a half-point increase tomorrow and a 25bp increase in February,\u201d said Moya, in a note seen by Benzinga.<\/p>\n

\u201cBitcoin extended its rally after a key pricing report showed the disinflation trend continues. Treasury yields tumbled alongside the dollar, which is great news for cryptos.\u00a0Bitcoin is getting close to the $18,000 level and that rally could continue if risk appetite remains strong post-Fed,\u201d according to the OANDA analyst.<\/p>\n

Micha\u00ebl van de Poppe <\/strong>said the \u201cplaying field is relatively simple\u201d for Bitcoin. The trader said that investors would like to see the apex coin break resistance at the $17,800 mark. If that happens Bitcoin will test the $18,200 level. He said support levels for potential longs are at $17,100 and $17,400.<\/p>\n

On Ethereum, Santiment<\/strong> said the second-largest coin\u2019s \u201cutility\u201d has risen to its highest level since May 2021 this week.\u00a0<\/p>\n

The market intelligence platform said that ETH \u201chas jumped back over $1,335 for the first time in 5 weeks. It’s a good sign that this spike in address activity is not coinciding with a normal [profit-taking] opportunity.\u201d<\/p>\n

Read Next: Bitcoin, Ethereum, Dogecoin Remain Unpopular Investment Options With Americans \u2014 Survey Says Just 10% Invest In Crypto<\/em><\/a><\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Major coins remained firmly in the green despite the largest spot exchange facing a run on deposits on Tuesday. The global cryptocurrency market cap rose 2.1% to $869.5 billion at 7:19 p.m. EST. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin […]<\/p>\n","protected":false},"author":1,"featured_media":38051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[46],"tags":[646,638,50,194,6612,370,5279,85,4961,158,2693,883,9384,213,8324],"class_list":["post-38050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-analyst","tag-binances","tag-bitcoin","tag-btc","tag-btcusd","tag-continue","tag-defiance","tag-dogecoin","tag-dogeusd","tag-ethereum","tag-ethusd","tag-move","tag-outflow","tag-rally","tag-troubles"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/12\/shutterstock_2051942426.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/38050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38050"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/38050\/revisions"}],"predecessor-version":[{"id":38052,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/38050\/revisions\/38052"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/38051"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38050"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}