Category: Cryptocurrency News

submitted by /u/Jumpman707 [link] [comments]

According to the most recent information, the GameFi industry is poised to realize its enormous potential within the next six years. According to Absolute Reports, its estimated value will increase to $2.8 billion by 2028, with a compound annual growth rate of 20.4% over the same period. You may have noticed that, even in the…
Read more

Binance, BitMEX and KuCoin have delisted FTX Token pairs from their crypto exchange platforms.

Sam Bankman-Fried’s FTX exchange acquired the Japanese crypto trading platform Liquid Group and its subsidiaries in February 2022.

In the latest bankruptcy filing for the exchange, it was revealed that there may be 1 million creditors, rather than the 100,000 initially estimated.

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

Despite current market conditions, the official Trust Wallet token (TWT) has posted impressive gains in the last 7 days. TWT saw an impressive rise of over 97% on its week-on-week chart. Most of the price rally happened in the last three days, with the coin marking a new all-time high yesterday. TWT’s surge also has something to do with the FTX’s crisis and CZ, the CEO of Binance. Recall that FTX, the former second-largest exchange, faced a liquidity crisis last week, which brought the crypto market to its knees. At the time, only PAX Gold kept substantial gains while others tanked.  Related Reading: Following FTX’s Collapse, These Exchanges Are Rumored To Be In Trouble However, TWT regained momentum after top crypto players like CZ called for self-custody. Shortly after mentioning Trust Wallet in a Tweet, TWT got listed on Binance, and its trading volume skyrocketed. TWT Trading Volume Surges After CZ Tweets About Self Custody In the last two days, the value of Trust Wallet Token (TWT) has increased by more than fifty percent. This comes after the recommendation made by CZ, the CEO of Binance, that investors utilize decentralized exchanges. CZ made this remark as it became evident that crypto investors wanted to find an alternative to centralized exchanges. After the FTX disaster sparked a wave of responses, CZ stated that self-custody was an option. Binance’s CEO has spearheaded the campaign for exchange openness after the event and has advocated self-custody before. After this, TWT began trading on Binance Chain and experienced a dramatic spike in volume. According to CoinMarketCap statistics, TWT had a 24-hour trading volume of $432.24 million, though it dropped 39% at press time. Recall that in July 2018, Binance purchased Trust Wallet in an effort to add on-chain mobile wallet capabilities to the company’s offerings. The Trust Wallet Token (TWT) is a BEP-20 utility token that is exclusive to the wallet. It gives token holders a voice in the decision-making process for new app functions, upgrades, and in-app purchase discounts. Can TWT Continue The Bullish Rally? For almost a year, TWT, or the trust wallet token, oscillated in a symmetrical triangular pattern. This pattern of continuous movement is prevalent in established markets, giving speculative buyers on the sidelines an entry point. There’s one possible target for this pattern. This is usually the distance between the breakout price and the high and low of the earliest price spread inside the pattern. Thus, the TWT price delivered a positive breakout from the pattern’s resistance trendline near the end of October’s strong surge. Within five days following the retest, prices had increased by 140%, setting a new all-time high of $2.71.  Related Reading: Bitcoin Shows Strength As Price Holds Above $16,500; Is This A Bear Trap? Looking at the setup above, the price of TWT has arrived at the goal indicated by the triangle pattern. However, such rapid and massive success is detrimental to the asset’s health. Therefore, a corrective phase will likely occur to stabilize the bull trend. At $2.22, TWT’s trading volume over the past 24 hours is $432,240,182. The token has seen a 6.23% decrease within this period and now ranks #43 on ConMarketCap. Featured image from Pixabay and chart from TradingView.com

Chainlink (LINK) managed to trim its losses after it made a bounce back despite the continuing uncertainty in the crypto market caused by Bitcoin and Ethereum’s recent respective declines.  According to data from Coingecko, at the time of this writing, the crypto asset is changing hands at $6.48 and has been up by 3% for the past 24 hours. Here’s a quick glance at how LINK has been performing this month: Chainlink relinquished the $9 territory following the recent collapse of the crypto market LINK made a small recovery that pushed its trading price above the $6 marker Technical indicators point towards another bearish momentum for LINK As it reclaimed the $6 marker, LINK was able to cut its seven day – deficit, from 40% last week to just 26.9% over the last seven days. It can be recalled that after climbing all the way to $9.47 on November 8, the altcoin, along with its fellow digital currencies, suffered and plummeted all the way down to $5.69. Currently, Chainlink ranks 23rd in terms of market capitalization, with an overall valuation of $3.17 billion. It is one of the few crypto assets that have tallied increase in its spot trading price. Technical Indicators Point To Further Bearish Trend For LINK As of this time, analysis points for LINK price leans towards the suggestion of another challenging run for the digital asset. Its Relative Strength Index (RSI) settled below the 50-neutral zone, indicating that Chainlink is once again caught in a downward trend. Source: TradingView Moreover, its Chaikin Money Flow (CMF) fell below the 0.05 value, suggesting that there was significant capital outflow in LINK’s market performance. Meanwhile, the crypto asset’s OBV indicated that there is a notable level of accumulation of the token during the period when it was trading at a narrow range since the month of May. Over the last six months, Chainlink was able to establish $6.3 as a steady support level. However, if the broader crypto market fails to make a bounce back soon, the asset could be looking at a decline below the $5.9 marker. Traders who are looking to take advantage of the current dip could test to buy between the $6.3 and $5.9 levels and try to make profit via the mid-range and high-range highs. Chainlink Holders Sustain Heavy Losses It turned out that Chainlink holders got worried when the asset experienced severe price correction as it abandoned the $9 marker. As evidenced by the 365-Market Value to Realized Value (MVRV) that was also in an uncontrollable freefall, LINK token owners cashed out their holdings due to fear of tallying even bigger losses. One good thing though for the crypto asset is its network growth metric which recorded a huge spike that surpassed the levels it set in September and October last year. Still, investors must keep in mind that if Bitcoin continues to falter and thus fails to push its price to higher levels, there’s a big chance that LINK and other altcoins will keep on struggling. LINK total market cap at $3.17 billion on the daily chart | Featured image from Watcher Guru, Chart: TradingView.com

A roadmap proposes the launch of a regulatory sandbox and the creation of a national blockchain-backed realty register

Bitcoin was trading marginally higher on Nov. 15, as the U.S. dollar continued to weaken, dropping to multi-month lows versus several G7 currencies. The decline of the dollar overshadowed tweets from FTX’s Sam Bankman-Fried, who cryptically tweeted “What happened” to his 1 million followers. Bitcoin Bitcoin (BTC) rose back above $17,000 on Tuesday, as the […]