Category: Cryptocurrency News

The cryptocurrency exchange filed a petition for rulemaking with the SEC in July and was served a Wells notice for potential violations of securities law in March.

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“The funding will support our efforts to continue building AI products that people can rely on,” developers wrote.

Reddit Collectible Avatars x Raving Rabbids confirmed Reddit Collectible Avatars x Raving Rabbids was just confirmed on the polygon blockchain. Reddit has deployed a few contracts. Inside them, we can find a lot of references to Raving Rabbids, with a few images released as well. Here is the most likely collection image: Reddit Avatars x…
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The Cardano price has consistently remained below the $0.38 zone for the past two weeks, indicating a strong presence of sellers in the market. Despite attempts by buyers to regain strength over the past month, their efforts have been feeble, unable to overcome the bearish sentiment. This persistent bearish price action has resulted in a notable breach of the crucial demand and support zone between $0.37 and $0.38.Over the last 24 hours, ADA has made a slight upward movement on its chart, but the progress has been limited. Similarly, on the weekly chart, ADA has not shown significant advancement. The technical outlook for ADA reflects bearish pressure and a lack of buying strength. Related Reading: Litecoin Surpasses $90, But This Level Remains Crucial For The Altcoin Demand and accumulation remain low as a consequence. Many altcoins have indicated minor price increases, with Bitcoin returning to the $27,000 price. ADA must maintain trading above its immediate support line to break out of its current narrow trading range. If ADA surpasses its overhead resistance, the altcoin could potentially experience a substantial rally in the following trading sessions. The decrease in ADA’s market capitalization suggests an increase in sellers outweighing buyers in the market. Cardano Price Analysis: One-Day Chart At the time of writing, the price of ADA was $0.37. The altcoin is currently experiencing tight price movement within a highly constricted range. Additionally, ADA is approaching a critical support level at $0.36. On the upside, there is an overhead resistance at $0.38.  A successful breakthrough above this level could drive ADA’s price toward $0.40. However, if the price fails to sustain its current level, it could drop below $0.36. This would lead to a trading range near $0.34. The recent session showed a decrease in the amount of ADA traded, indicating a slow buying strength. Technical Analysis Throughout this month, ADA has struggled to generate substantial buying strength due to low demand. The Relative Strength Index (RSI) currently sits below the midpoint, signaling that selling pressure has prevailed in the market. Furthermore, the altcoin price has recently dropped below the 20-Simple Moving Average (20-SMA) line, indicating that sellers have been driving the price momentum. For ADA to experience a breakout, the price would need to attempt to rise above the 20-SMA line. While other technical indicators may not signal ADA bullishness, the one-day chart reveals some buy signals. The Moving Average Divergence Convergence (MACD) has shown green histograms, indicating a positive price action and momentum. Related Reading: Litecoin’s MVRV Has Surged, Why This Is Bearish However, the Parabolic SAR is yet to reflect this positive price action, as the dotted lines remain positioned above the price candlesticks. Featured Image From UnSplash, Charts From TradingView.com

According to the U.S. SEC, IOSCO members together regulate more than 95% of the world’s securities markets.

Santiment has broken down how the recent action in the Bitcoin price may have been affected by the prevailing sentiment in the market. Trends In Bitcoin Social Volume May Have Influenced The Price Recently As the on-chain analytics firm Santiment explained, BTC generally moves in the direction the crowd isn’t expecting. The relevant indicator is the “social volume,” which measures the total number of social media text documents discussing a given term or topic. The social media text documents here refer to a collection of social media posts collected by Santiment that have been sourced from various popular platforms like Twitter, Reddit, and Telegram. This indicator only checks whether a text document in this collection mentions the term at least once; posts with more than one mention of the topic are still given the same weight as a document that only does it once. To use this indicator for pinpointing discussions related to market sentiment, the analytics firm first found the social volume of Bitcoin and cryptocurrency in general. Then it filtered it for some specific terms that refer to the investors’ mentality. Related Reading: How Does Current Bitcoin Rally Compare With Historical Ones? Here is a chart that shows the trend in the Bitcoin social volume for negative and positive sentiments over the last week: The trend in the two market sentiments for BTC over the last few days | Source: Santiment on Twitter The terms used here to separate the discussions related to positive sentiment are buy, bullish, and bottom. Similarly, sell, top, and bearish are some of the terms that have been used for finding negative talks. In the graph, Santiment has marked the pattern that the social volumes of these sentiments followed during the past couple of days. On the 21st, following the decline in the asset’s price, the indicator’s value for the negative mentality observed a large spike. Related Reading: Former MicroStrategy CEO Says Bitcoin Rally Just Getting Started This means that social media discussions had gotten quite bearish when this price drop occurred. However, once this mentality shift happened, the cryptocurrency saw a local bottom formation. Over the next day, the coin saw some rise and broke back above the $27,000 level. While this rise was taking place, the sentiment again turned positive. By the time the price went above $27,000, though, the social volume of the greedy sentiment had reached pretty high values. Like when the negative sentiment had become overwhelming, the bottom had formed, a top occurred following this positive mentality spike. Historically, the Bitcoin market has generally always moved like this; whenever the sentiment becomes too unbalanced towards any particular side, the market tends to show moves opposite to this sentiment held by the majority. BTC Price Since Santiment posted its analysis and the flush in the positive sentiment, Bitcoin has again risen above the $27,000 mark. When writing, the coin is floating around $27,300, up 1% in the past week. BTC has observed an uplift during the past day | Source: BTCUSD on TradingView Featured image from Thought Catalog on Unsplash.com, charts from TradingView.com, Santiment.net