Australia’s securities regulator has suspended the license of the Australian unit of the bankrupt crypto exchange FTX until mid-May. According to an issued statement, the platform will be allowed to provide limited financial services until Dec. 19 in order to terminate existing derivatives. FTX Australia Sees License Suspended After Accepting Voluntary Administration The Australian Securities […]
ATOM’s price loses its demand zone of $13 as the price trades to a low region of $10 and could experience more sell-off. ATOM’s price continues to look weak after a bearish downtrend with the market’s current state, as things look uncertain for most traders and investors. ATOM’s price trades below the daily 50 Exponential Moving Average (EMA) as bulls eye levels to buy in. In the last two days, the crypto market has seen some drastic shift in sentiment, with Cosmos (ATOM) and the price of other altcoins battling for survival after the news that Binance would not be taking over FTX after conducting due diligence. Previous weeks saw the price of Cosmos (ATOM) perform well, rallying from a low of $13 to a high of $15. Most altcoins trend higher as many produced gains of over 200%, with many hoping for more recovery bounce. Still, these expectations were cut short by the uncertainty surrounding the crypto market, leading to much fear about where the market is headed. (Data from Binance) Related Reading: Bitcoin Price Resists But Breaking This Resistance Could Encourage Bulls Cosmos (ATOM) Price Analysis On The Weekly Chart The past few days have been filled with so much turbulence in the crypto space as many altcoins have struggled to show strength after losing their key support holding off price decline. The current uncertainty surrounding the market has resulted in reluctance on the part of traders and investors to make altcoin purchases, as there is no assurance if they would be heading up any time soon. The price of ATOM, despite showing some great strength in recent weeks, ATOM has been left hanging in the air as the current state of the market has led to the price dropping to its weekly low of $10 after a long while. The price of ATOM saw its price decline to a weekly low of $9.5 before bouncing off this region, showing some great strength to a region of $10 as the price aims to break higher. Weekly resistance for the price of ATOM – $11.5. Weekly support for the price of ATOM – $6.5. Price Analysis Of ATOM On The Daily (1D) Chart The price of ATOM remains weak in the daily timeframe as the price trades below the key support region of $11.5, with bulls eyeing lower regions to buy in on the price of ATOM. The region of $8.5-$5.5 has been a key demand zone for the price of ATOM on both weekly and daily timeframes, considering how strong this project has been with good community backing. Daily resistance for the ATOM price – $12. Daily support for the ATOM price – $8-$5. Related Reading: Ethereum Price Showing Early Signs of Fresh Drop, But This Support Is Key Featured Image From zipmex, Charts From Tradingview
So with Shanghai slated for 2nd half of 2023, this will allow staked Ethereum to be withdrawn as well as a reduction in L2 gas fees. Anything else significant? Also: 1.) How much will the reduction in L2 gas fees be? Is this process also called "sharding"? 2.) After Shanghai, will eWASM come next or…
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A spokesperson for Australian Treasurer Jim Chalmers said they are closely monitoring the fallout from FTX’s collapse.
submitted by /u/KAX1107 [link] [comments]
Despite eight months of due diligence, investment firm Temasek found no major concerns with FTX’s financials and no sign that the crypto exchange would eventually collapse.
With Sam Bankman-Fried involved in so many philanthropic ventures, the fallout of FTX could also see a variety of grants and investments being subject to clawbacks or not honored.
Its been a year for me in the crypto space and I have been collecting a few coins here and there but now have lost trust on all those shitcoins.. planning to fill the bags with Ether instead. I wanted to just use the Ethereum blockchain for that but its transaction fees are too high…
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Investment firm Paradigm is still optimistic about crypto’s potential following the collapse of FTX. “The blowup of FTX has caused some to question crypto’s value. But the issues at FTX are precisely ones that decentralized finance [defi] can solve through increased transparency and security,” the firm’s co-founder emphasized. Paradigm on FTX Collapse, Defi Paradigm co-founder […]
Ethereum failed to clear the $1,300 resistance zone against the US Dollar. ETH remains at a risk of more losses if there is a break below the $1,170 support zone. Ethereum is facing resistance near the $1,250 and $1,280 levels. The price is now trading below $1,240 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,245 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate lower if there is a clear move below $1,180 and $1,170. Ethereum Price Faces Hurdles Ethereum attempted an upside break above the $1,300 resistance, similar to bitcoin at $17,000. ETH failed to gain pace for a clear move above the $1,300 resistance. A high was formed near $1,290 before the price started a fresh decline. There was a clear move below the $1,260 and $1,250 levels. Ether price even traded below the $1,220 level. A low is formed near $1,183 and the price is now consolidating losses. The price is now trading below $1,240 and the 100 hourly simple moving average. There was a minor increase above the 23.6% Fib retracement level of the recent decline from the $1,290 swing high to $1,183 low. An immediate resistance on the upside is near the $1,240 level. There is also a major bearish trend line forming with resistance near $1,245 on the hourly chart of ETH/USD. The trend line is near the 50% Fib retracement level of the recent decline from the $1,290 swing high to $1,183 low. Source: ETHUSD on TradingView.com The next major resistance is near the $1,265 level. A clear break above the $1,265 resistance could send the price towards the $1,300 resistance zone. To start a steady increase, the price must settle above $1,300. In the stated case, the price could rise towards the $1,400 level. More Losses in ETH? If ethereum fails to climb above the $1,245 resistance, it could continue to move down. An initial support on the downside is near the $1,185 level. The next major support is near the $1,170 level, below which ether price may perhaps start another major decline. In the stated scenario, the price could drop towards the $1,100 support zone in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,170 Major Resistance Level – $1,265
