Ethereum price moves toward new highs, Dogecoin failed to hold its position

Hello everyone, this is our weekly crypto digest. Here you’ll find everything from a weekly market summary and top news to the hottest new listings on exchanges, and even memes to cheer you up. To get these updates as soon as we post them, follow us on Twitter.

Weekly Market Summary

The price of Ether (ETH) fell by 19.6% on April 18, resulting in the quick liquidation of $1 billion in long futures contracts. Despite the size of this record liquidation and its impact on Ether’s price, the futures open interest remained above $20.5 billion, which is 5% below the previous month.

After the sell-off, there were signs that investor sentiment deteriorated, which was evident in derivatives markets. Historically, there’s much higher borrowing demand for Ether longs as opposed to shorts. Over the past couple of days, the long-to-short ratio has flipped, reaching the lowest level since December 2018.

The DOGE army has retreated and Dogecoin is down by more than 15% on Wednesday, April, 21. Despite best efforts to push the virtual token over the magical £0.072 ($1) line on “Dogeday”, DOGE has been trending downwards since Tuesday, April, 20.

Although the rally was originally conceived as a joke, many were hoping a concentrated rally of traders could push the price upwards.

Quick weekly news:

• Venmo Is The Latest Payment App To Embrace Cryptocurrency: Read more here.

• Norwegian Tax Authorities Warn Crypto Users to Declare Earnings: Read more here.

• Deutsche Boerse to de-list Coinbase from Xetra, Frankfurt trade: Read more here.

• Former Amazon exec will become new CFO of crypto exchange Bitstamp: Read more here.

Other notable events include:

– Bitcoin consolidates below $56K

– Huobi Asset Management raises $50M

Bitcoin

Bitcoin is holding short-term support and was trading around $54,000 at press time. The cryptocurrency is now below the 50-day moving average as upside momentum continues to slow. Buyers will need to defend support around $51,000 to stabilize the long-term uptrend.

The relative strength index (RSI) on the daily chart has made a series of lower highs this year, which reflects slowing upside momentum.

Huobi

Huobi Asset Management  has launched four crypto funds, providing traditional asset managers with new ways to invest in bitcoin (BTC, -0.97%), ethereum (ETH, +8.15%) and the booming crypto mining businesses.   

The new offerings include a private equity fund in the global crypto mining businesses, an actively-managed crypto fund and two funds which will invest directly in bitcoin and ethereum. The funds are open to institutional investors such as family offices, asset managers and high-net-worth individuals.

Here are the hottest exchange listings of the last week: 

New Listing on Binance:

– Mirror Protocol (MIR/BUSD MIR/USDT MIR/BTC)

– FC Barcelona Fan Token (BAR/BTC BAR/USDT BAR/BUSD)

New Pairs on Binance:

– BTG/USDT BTG/BUSD HOT/BUSD

– BNB/UAH WIN/BRL ONT/TRY VET/GBP VET/EUR

– 123/456

New Listing on Bittrex:

– Rari Governance Token (RGT/BTC RGT/USDT RGT/ETH)

– 1INCH (1INCH/BTC 1INCH/USDT 1INCH/ETH)

– NFTX (NFTX/BTC NFTX/ETH NFTX/USDT)

New Pairs on Bittrex:

MANA/USD

– STEEM/USDT

– SNX/BTC

New Listing on Huobi:

– Mirror Protocol (MIR/BTC MIR/ETH MIR/USDT)

– xDai (STAKE/BTC STAKE/USDT STAKE/ETH)

– Apron Network (APN/USDT APN/BTC APN/ETH)

By the way, our PRO plan includes new Exchange Listing alerts for all 27 exchanges in the app. Become a PRO and receive an instant notification when a new coin is listed on Coinbase Pro, Binance, or your exchange of choice!

 

 

We have prepared for you top-performing coins of Apr 22.

Maker has managed to become the best performing asset among TOP-100, gaining 28.31% within the last 24 hours.

Nano was the worst-performing asset among TOP-100 (again), losing 28.80% within the last 24 hours.

To get up-to-date reports on gainers and losers during the week, follow us on Twitter.

Top crypto meme of the week

 

We hope you found this digest useful and informative! If you want to be the first one to receive new crypto insights and stay up-to-date with the market, follow us on Twitter. Happy trading with the Good Crypto app!