Category: Cryptocurrency News

Crypto is becoming mainstream in Brazil, with 7.8% of the country’s population (about 16 million people) owning cryptocurrency. As a result, exchanges such as Binance, Crypto.com, and Coinbase are soaring in Brazil. Brazil is becoming the primary crypto market of Latin America as records show over 12,000 Brazilian companies have crypto holdings. Brazilian Tax authority released August figures showing the highest number of holdings ever recorded. In addition, amid high inflation rates in the country, cryptocurrencies saw increased adoption in August. Related Reading: LUNC Community Clamors For Coinbase Listing, Can It Reach $1? According to reports, Receita Federal do Brazil (RFB) recorded 12,053 companies that declared crypto in the balance sheet in August 2022. From the RFB release, Bitcoin is the highest among the crypto holdings, with Tether stablecoin tailing closely after BTC. In addition, the August numbers are the highest so far, with a 6.1% increase from the July number of 11,360. Rundown Of Brazil’s August Crypto Transaction Records While the number of institutional investors increased, individual crypto investment reduced from July to 1.3 million in August. However, the total number of holdings reduced, with August showing $2.1 billion, which may be due to the current bear market. Tether stablecoin USDT got the highest transaction volume, with over $1.42 billion moved across 80,000 transactions in August. This value is approximately $17,500 per transaction on average. BTC followed closely behind Tether with nearly $270 million in transactions and the highest volume of over 2.1 million in August. But BTC had a lower average transaction of $130 than Tether. The Stablecoin USDC fell from third place to fifth in value transacted from July to August. USDC lost to Tether and Brazilian Digital Token (BRZ). BRZ is a real-pegged ERC-20 token. Brazilians Maintain High Trust On Digital Assets Bitstamp Crypto Pulse reports that Brazilians maintain a bullish stance on cryptocurrency, with 77% declaring their trust in digital assets in September. In addition, several financial companies in Brazil, such as XP Inc. and PicPay, have begun to offer crypto services. Both PicPay and XP Inc. integrated crypto exchange services in August. Related Reading: XRP Price Hits Target Of $0.5, But Can It Break This Key Resistance? Furthermore, Binance has increased its operations in Brazil, doubling its steam in March, and opened two new offices on October 4. With the increased mainstream crypto adoption, Binance is looking to spread its net and tap into the emerging market. Recently, Binance announced two new offices in Sao Paulo and Rio de Janeiro, with over 150 employees to cover operations. The crypto exchange also operates with the approval of Brazilian Regulations. The increasing crypto adoption in Brazil could be due to the macroeconomic situation in the country. In April, inflation rates in Brazil saw a 12.1% increase, the highest in 26 years. However, the latest Data from the Statistics Agency in Brazil shows the rates have gone down to 8.7% in August. Featured Image From Pixabay, Charts From Tradingview

Billionaire hedge fund manager Paul Tudor Jones says cryptocurrencies, specifically bitcoin and ethereum, will be “at a value much higher than where we are today.” Confirming that he still owns bitcoin, the famed hedge fund manager revealed that he “always” has a small allocation of bitcoin in his portfolio. Famed Hedge Fund Manager Paul Tudor […]

User data from DappRadar consists of metaverse users who have also made an in-game purchase with the project’s native token, but the Decentraland and Sandbox projects disagree with that criteria.

Bitcoin price is slowly moving lower below the $19,200 support against the US Dollar. BTC could slide further if there is further escalation in Russia-Ukraine war situation. Bitcoin is slowly moving lower below the $19,200 and $19,000 levels. The price is trading below above $19,500 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $19,260 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if there is a clear move below the $18,920 support. Bitcoin Price Slides Bitcoin price remained in a bearish zone below the $20,000 support zone. BTC slowly moved and settled below the $19,500 support plus the 100 hourly simple moving average. There was a clear move below the $19,200 support zone, increasing pressure on the bulls. Finally, the price moved below the $19,000 level and traded as low as $18,970. The price is now consolidating losses near the $19,000 pivot level. Bitcoin price is trading below above $19,500 and the 100 hourly simple moving average. There is also a connecting bearish trend line forming with resistance near $19,260 on the hourly chart of the BTC/USD pair. On the upside, an immediate resistance is near the $19,110 level. It is near the 23.6% Fib retracement level of the recent decline from the $19,559 swing high to $18,970 low. The next major resistance sits near the $19,260 zone and the trend line. The trend line is close to the 50% Fib retracement level of the recent decline from the $19,559 swing high to $18,970 low. A clear move above the trend line might send the price towards the $19,500 resistance or the 100 hourly simple moving average. Source: BTCUSD on TradingView.com Any more gains might send the price above the $19,600 resistance. In the stated case, the price could rise towards the $20,000 resistance level. More Losses in BTC? If bitcoin fails to rise above the $19,260 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone. The next major support is near the $18,920 zone. A downside break below the $18,920 support zone might call for more losses. In the stated case, there is a risk of a move towards the $18,500 support zone. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $19,000, followed by $18,500. Major Resistance Levels – $19,260, $19,500 and $20,000.

No, this isn't a comedy post. This is real. Jared Grey, the new sushi head chef allegedly fingered a horse. ​ Sushi is down over 10% currently and is at $1.23 Sushi Swap Head Chef Says Rumours of Impropriety With a Horse Are 'Completely False' Jared denies the rumor. In true crypto fashion, a new…
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I’ve already posted a similar post here although it didn’t contain as much detail so I’m expanding on this one and going into further detail There’s been a flurry of recent developments in the zero-knowledge sector on Ethereum with some L2s even launching zkEVM testnets which enticed me to rewrite about this subject. Again, ZK…
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Trading crypto in the bear market is one of the toughest times for most traders, including advanced traders, but as the saying usually goes, the bear market produces the best of traders, and millionaires are born. Trading with the right skills and implementing your strategy to the very least is like exposing yourself to risk that could cost your life but, in this case, your trading portfolio.  Having the right psychology, patience, and trading with the right strategies gives you an edge over huge investors and institutions. Most traders and investors look for strategies with the best profitability and result, thereby increasing their earning potential. Most technical analysis strategies, when combined appropriately, yield huge success. Let us discuss how the supply and demand zone as a strategy is used by institutions to enable them to trade with the best possible outcome. We will also see how to combine the supply and demand zone with other trading strategies. Related Reading: LUNC Community Clamors For Coinbase Listing, Can It Reach $1? What Is Supply And Demand Areas  It is key to understanding that the market always moves in cycles, and getting a hang around this concept allows you as a trader to trade and best position yourself to get the best result out of the market. There are four common market cycles or market structures that traders should know. They are the uptrend, downtrend, accumulation, and distribution phases.  The concept of demand and supply revolves around the different market structures the market forms after some time.  The supply zone is the price area or zone where sellers are more dominant and want to sell an asset at a considerable price, thereby preventing the price from going higher. The demand zone is the price area or zone where buyers are more dominant and want to buy an asset at a considerable price, thereby preventing the price from going lower. How To Identify Supply And Demand Zones Supply and demand zones can be easily identified by looking at the chart, as they are not difficult to find. Here is a simple step to find either supply or demand zones. Examine the chart for consecutive large consecutive candles. The price must move rapidly. Determine the base (usually a sideways price action area) from which the quick move began. How To Trade Supply And Demand Zones With Pin Bar Pattern One of the most highly used patterns in trading is the pin bar pattern, used to spot potential price reversal from an uptrend or a downtrend. Let us discuss how this pattern with the supply and demand area is highly effective. From the chart above, the formation of a demand area with pin bar patterns indicates a potential price reversal to the uptrend, confirmed by the price moving upward. Related Reading: XRP Price Hits Target Of $0.5, But Can It Break This Key Resistance? Featured Image From zipmex, Charts From Tradingview

Former Federal Reserve Chairman Ben Bernanke has been awarded a Nobel Prize in Economics. The Nobel Prize committee believes that he “significantly improved our understanding of the role of banks in the economy, particularly during financial crises.” Many people, however, blame Bernanke for getting us “to the brink of collapse and under a mountain of […]

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The country is a key institutional market for the exchange according to the CEO of Coinbase Singapore, who explained it’s also working with local industry groups to improve regulations.