Data shows public interest in Bitcoin is low: Here’s what may be driving BTC higher
BTC $11,392 (+2.2%) • ETH $390 (+3.4%) • XRP $0.31 (+8.6%)
|CryptoSlate||Aug 3|| 2|
The crypto community has been buzzing throughout the past couple of weeks as Bitcoin and the aggregated market show signs of life.
Following a multi-month bout of sideways trading within the lower-$9,000 region, BTC bulls finally awoke and drove the crypto past $10,000. From here, it rapidly soared to highs of $12,000 before its ascent slowed.
The crypto is now consolidating within the mid-$11,000 region as bulls vie to break above this newly established resistance.
Despite possibly being in the early stages of the next full-blown bull market, public interest in Bitcoin and other crypto topics remains incredibly low.
This is clearly illustrated while looking towards Google Trend data regarding crypto-related keywords.
Because new retail investors clearly aren’t backing this move, what is?
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As the price of Ethereum rises, the incentive its holders have to sell it increases.
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The developer behind Asuka, a short-lived fork of DeFi project Yearn Finance (YFI), conducted an exit scam this morning, with sources noting the loot was between the range of $30,000-$60,000.
Crypto dot com unveiled its MCO swap program on August 3, allowing existing holders to shift their tokens to CRO as the protocol shifts to a unified, singular token system for its mainnet.
Cardano (ADA) – like all other digital assets – saw a notable decline yesterday that came about in tandem with Bitcoin’s plunge from highs of $12,000 to lows of under $11,000.
As most readers are likely aware, Ethereum and Bitcoin faced a flash crash on the evening of August 1.
Bitcoin bore witness to some intense volatility overnight that rivaled that seen in mid-March.
Throughout the past few weeks, hordes of retail investors have been lured into the DeFi sector by the massive gains posted by many of the crypto assets residing within this fragment of the crypto industry.
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