Category: Cryptocurrency News

submitted by /u/Odlavso [link] [comments]

Projects were allegedly swayed into signing contracts with dubious market makers as consideration for listing on crypto exchange Coinone.

Dogecoin’s on-chain transaction count is up more than 60X from roughly 20,000 transactions as of May 1 to over 1.20 million on May 20, BitInfoCharts data shows. 60X Spike In Transaction Count The present spike represents a 60X expansion in the Dogecoin transaction count, a noteworthy development primarily due to the launch of Ordinals on the proof-of-work blockchain. The spike in Dogecoin’s transactions coincided with the launch of Ordinals on May 10. With Ordinals now on Dogecoin, another proof-of-work blockchain using the same consensus style as Bitcoin, users can create a new token based on the DRC-20 system. These tokens represent unique assets like texts, images, or videos. Crucially, users don’t have to use smart contracts to mint them. However, despite the exponential increase in transaction count, DOGE prices are stable, moving horizontally, and relatively unchanged in the last three weeks. The coin is also down 31% from April 2023 peaks. Related Reading: Dogecoin Multiple Attempts At $0.10: Will The Barrier Finally Be Broken? Dogecoin is the first meme coin created as a joke and launched in 2013. But over the years, it has gained a significant following and endorsement, including from Elon Musk, the billionaire technology investor.  DOGE, the native currency of Dogecoin, is one of the largest cryptocurrency networks whose market capitalization places it among the top 10 coins. As of May 22, DOGE had a market capitalization of $10.1 billion and is more valuable than Polygon, an Ethereum sidechain, and Solana, a smart contracting platform, according to CoinMarketCap data. Ordinals On Dogecoin The DRC-20 standard is inspired by the more popular ERC-20 standard in Ethereum. Tokens complying with the DRC-20 on the Dogecoin platform are fungible and can be transferred. With these tokens, users can “inscribe” files, attaching them to the smallest unit of Dogecoin called “shibes.” These unique files represent various assets, including texts, images, videos, applications, and much more. Inscribed files, confirmed by Dogecoin miners and added to the blockchain, are unique and comparable to non-fungible tokens (NFTs). The rise of DRC-20 tokens on Dogecoin explains why there has been a sharp spike in the number of on-chain transactions over the last 12 days, as trackers show. To illustrate, BitInfoCharts data shows that the number of on-chain transactions on May 10 stood at 48,500. However, the number has steadily risen in the last 12 days, peaking at 1.2 million on May 20. Dogecoin Transaction Count | Source: BitInfoCharts Considering the popularity of NFTs on proof-of-work blockchains like Bitcoin, Litecoin, and Dogecoin, transaction counts on each network will only continue rising.  Related Reading: Bugs Discovered On Ordinals Protocol As Bitcoin Rips Above $30,000 Ordinals, the team behind the BRC-20 standard that’s now being replicated on Dogecoin, aims to expand the use case of Bitcoin. In their view, Ordinals believe proof-of-work blockchains offer better security and decentralization, allowing NFTs to thrive. Feature Image From Canva, Chart From TradingView

The accelerator will invest between $50,000 and $250,000 per project that builds on TON and has an MVP.

Ethereum (ETH), the second-largest digital asset in the cryptocurrency sector, is currently captivating traders’ attention as volatility gauges indicate an intriguing shift in market dynamics.  Contrary to the customary pattern, these indicators are suggesting that Ether may experience relatively smaller near-term price fluctuations compared to Bitcoin, according to Bloomberg. This unexpected reversal has injected a fresh element of anticipation and curiosity among investors, who are now closely monitoring the evolving landscape of cryptocurrencies.  Related Reading: Shiba Inu Struggles To Initiate A Breakout: Will It Defy Resistance And Rebound? The Bitcoin Volatility Index. Source: T3 Index. Narrowing Gap Between Ethereum And Bitcoin Volatility The T3 Ether Volatility Index, an innovative tool, lies at the core of this phenomenon. It has emerged as an indispensable barometer for assessing and foreseeing price volatility in the Ether market. The data compiled by Bloomberg reveals that the difference in volatility between Ether and Bitcoin, as measured by the 180-day realized or historical volatility, is currently at its smallest since 2020. Furthermore, this difference is only marginally positive, indicating a remarkably close alignment between the volatility of Ether and Bitcoin. The Ether Volatility Index. Source: T3 Index.   Caroline Mauron, co-founder of crypto derivatives platform OrBit Markets, told the publication: “Lower volatility typically helps institutional investors to allocate more capital to crypto, as it becomes cheaper to buy protection and manage exposures… the volatility spread compression may drive more exposure to Ether from long-term investors.” Implications Of Ethereum Price Fluctuation The changing flux of Ether’s volatility behavior have significant implications. Notably, the Bitcoin and Ether implied volatility indexes, which rely on options pricing, have experienced declines after reaching recent highs in March.  However, Ether’s implied volatility has decreased at a faster pace. Additionally, a broader measurement of cross-asset fluctuations in global markets has also witnessed a decline. The implications of Ether’s changing volatility behavior are multifaceted. The faster decline in Ether’s implied volatility suggests that market participants have become less uncertain or less anxious about the future price movements of Ether compared to Bitcoin. This could be influenced by various factors such as regulatory developments, market maturity, or growing investor confidence in Ether’s long-term potential. ETHUSD trading at $1,812. Chart: TradingView.com Related Reading: Ethereum Whale Resurfaces After 2-Year Hiatus, Stakes $7.4 Million In ETH Furthermore, the broader decrease in cross-asset swings indicates a potential reduction in risk aversion among investors, as they perceive a more stable and predictable market environment. This could impact investment decisions and trading strategies, as market participants may adjust their risk management approaches and allocation of resources based on the evolving volatility landscape. The changing volatility of Ether, as reflected in the Bitcoin and Ether implied volatility indexes and the broader measure of cross-asset swings, highlight the evolving nature of the cryptocurrency market.  -Featured image from Coinnounce

submitted by /u/eat-sleep-rave [link] [comments]

Bonjour, fellow crypto enthusiasts! I am Pierre Levillain, the CEO of French cryptosecurity startup Dreadger, and I am delighted to introduce you to our groundbreaking creation — the Dreadger NoNo X! Get ready to embark on a journey where convenience takes center stage in the world of crypto ownership. ​ Sleek, chic, secure. The NoNo…
Read more

The bearish pressure in Chainlink (LINK) since April 19, 2023, seems to have ended recently. Notably, the asset dropped from $8.57 to a low of $6.37, representing a dip of 25.67% between April and May 11. However, a strong recovery in the LINK market started on May 12 till date. On May 21, 2023, the coin rose to a local high of $6.782, changing the trend to favor the bulls. As the bulls take back control of the market, the price of LINK has increased significantly, giving the investors/traders hope and creating positive sentiment. Bulls Build Strong Momentum Chainlink (LINK) is a leading cryptocurrency that connects smart contracts with real-world data. LINK has demonstrated exceptional performance in the crypto industry, boosting its market capitalization significantly. Related Reading: Ethereum Whale Resurfaces After 2-Year Hiatus, Stakes $7.4 Million In ETH The price of Chainlink is $6.48 today, May 22, 2023, with an estimated market cap of $3.35 Billion. LINK’s 24-hour trading volume is up within the last 24 hours by 80.93%, indicating high trading activity in the market.  Currently, Chainlink’s Fear & Greed Index is 76% at Extreme Greed, suggesting that the market sentiment is leaning toward more buying sentiment. This means that investors and traders may be more optimistic about the market’s future and are more inclined to take risks. One of the key factors contributing to the bullish sentiment around LINK is the general market sentiment toward cryptocurrency. The Relative Strength Index (RSI) indicates the market still favors the bears. Also, LINK is currently trading below both its 200-Day and 50-Day Simple Moving Averages (SMA), which shows a bearish trend in the market. This also indicates that both long and short-term trends are bearish. The Moving Average Convergence/Divergence (MACD) confirms a strong bullish momentum as its trades above the signal line. Moreover, the histogram validates the bullish sentiment with a positive trading value and bars above zero. LINK oscillates between its direct support and resistance levels of $6.212 and $6.773, respectively. The next significant support level is $5.404, while its next resistance level is $7.5. With added momentum from either side, bulls or bears, LINK may hit these levels soon. Chainlink Whales Are On Accumulating Spree According to the on-chain data, whales are strongly bagging LINK into their purse, despite the last dip in the asset. Data from Santiment shows that the 10,000-10,000,000 key whales are accumulating more coins. This development is encouraging, considering the state of the asset. It might drive up the demand for LINK as investors will be more optimistic. Related Reading: Shiba Inu Sees Juicy Capital Inflows – An Imminent Rebound in Sight? Generally, the number of whales on the LINK network has been on the rise since 2020. Despite the bear market, the number of whales who stayed with LINK never dropped a bit. Even with the limited liquidity and funding, the growing presence of whales on the network could fuel further momentum in Chainlink, leading to a rally for the cryptocurrency. Featured image from Pixabay and chart from Tradingview.com