Meanwhile, the US markets have closed again. We look at the live Bitcoin price and the prices of the top 25 crypto. Then we look at which crypto are tipped for a flash crash. Next, we look at whether investing in Cronos (CRO) can be profitable. Finally, we have news about a possible new crypto partnership from Red Bull.
We start with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price rises, prices top 25 crypto exchange
At the time of writing, the live Bitcoin price is quoting EUR 28,476.58 ($30,152.16). This is 3.93% higher than during our crypto update last night.
The prices of the other crypto in the top 25 are currently changing. We are seeing a number of reds. Avalanche (AVAX) is currently losing the most and is trading at -5.49%. Litecoin (LTC) is currently seeing the biggest gains at +4.57%. On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.
Are these crypto heading for a flash crash?
Despite the rising crypto prices of the moment, caution is in order. For example, this afternoon we saw that Bitcoin is in a correction phase according to the Elliott Wave analysis. Also, analysts are tipping several crypto currencies for a coming flash crash.
This one looks to be especially painful for crypto-currencies in the DeFi ecosystem. We are talking about Ethereum (EHT), Cardano (ADA), Solana (SOL) and Avelanche (AVAX). Meme coin Dogecoin (DOGE) is also among the unlucky contenders. The analysts’ expectation is based on the fact that the ‘total value locked’ on these Proof of Stake blockchains has dropped significantly due to the recent crypto crash.
On-chain metrics such as total value locked, the number of active users, activity and trading volume are falling faster than that of Bitcoin. In doing so, the structures of these coins are outdated and therefore vulnerable, and the incentives are no longer virtuous and incentive-based. The flash crash could be huge. Some analysts even estimate that the value of the mentioned crypto could fall by 90%.
To invest or not to invest in Cronos (CRO)?
Nasdaq made a comprehensive analysis of the Cronos (CRO). We already saw this coin several times as the coin with the most profits of the day. Yet during the crypto crash, heavy ticks fell here as well. We can see this, among other things, in the monthly result of Cronos (CRO), which is -52.27%.
The bottom line is that for now it has potential as a crypto exchange and platform for smart contracts. On the other hand, there are currently no unique points that indicate that this crypto will rise head and shoulders above the smart contracts competition. Insiders can read the entire Cronos (CRO) review here. According to the analysts, it seems prudent to wait first to see how the coin emerges from the current crisis, although of course it is always wise to do your own research.
So for now, we see a lot of mixed signals for both Bitcoin and the top 25 crypto. Therefore, it is wise to prepare for trading crypto in uncertain conditions.
The same is true for investors in Shiba Inu (SHIB).
Shiba Inu (SHIB) hints at Red Bull deal, crypto does not respond
The top of the Shiba Inu (SHIB) organization apparently sat down with a delegation from Red Bull today. At such meetings, of course, not (only) the weather is discussed. It seems that something beautiful is blossoming between these two parties.
The particularly enthusiastic Tweet from the SHIB chief suspects that something beautiful is about to happen.
Twitter won’t load because you didn’t give permission.
Thanks for the chat about everything #SHIB .@redbull ! Looking forward to speaking more in the future! pic.twitter.com/ROh3RceFyS
– Shytoshi Kusama
Neither party has yet disclosed anything substantive about their arrangement and/or a possible deal, but the fact is that Red Bull has made huge sponsorship deals with multiple crypto parties.
If the stock market wisdom of “buy the rumor, sell the news” is to be believed, the Shiba Inu (SHIB) would now have started a price jump(s). However, anyone who looks at the live Shiba Inu (SHIB) price will see a drop in price.
All the more reason to keep following developments in the crypto market.
Want to stay up to date with the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”