Category: Cryptocurrency News

Dogecoin is now showing signs of renewed vitality as the crypto market also starts to flex some muscle. Meme coins are now getting more attention as the major crypto continue to pick up and soar. Dogecoin (DOGE) is seen to be moderately volatile trading along the range of $0.0655 to $0.06867 overnight. The crypto space is blinking green as Bitcoin ushers with a gain of 0.82 percent, Ethereum spikes at over 4%, and Solana joins the party as the biggest gainers with 10%. DOGE trading volume has spiked by 21.22 percent or a total of $528.5 million. The coin now ranks in the 10th place with a total market cap of $9 billion. DOGE has failed to break higher for the past couple of hours which is indicative of further retracement or retesting. Suggested Reading | Solana Adds 70% More Shine – Can SOL Keep The Light Coming? Dogecoin Reaches $0.069 Resistance Level On the brighter side, Dogecoin is seen to move forward from a previous low of $0.058 to hit the $0.069 major resistance level. With that in mind, the losses that have been incurred in the early days of July has already been retraced and a reversal is set to happen anytime soon. Can DOGE now easily breach past the $0.070 to $0.075? But, for now, there is no lower low set, so rallying may be expected once a new higher local low is set. As of now, the Dogecoin price may have difficulty to break higher than the $0.069 mark because it still offers a forceful resistance. On the other hand, DOGE/USD may slide down below $0.065 which is seen as the closest support where the next probable higher low can be set over the next couple of days. DOGE total market cap at $9.83 billion on the daily chart | Source: TradingView.com Once that retest is done, another attempt to rally above $0.069 is expected – and perhaps cruise past the $0.070 barrier. Now, if DOGE happens to drop below the resistance mark of $0.0625, further downside may be reached in the next few days. DOGE/USD is seen to have a bearish movement today due to the slight retrace that shifted into a consolidation. With that in mind, Dogecoin will not likely go higher and will have a tendency to retrace further at the end of the week. DOGE May Easily Breach $0.075 Meanwhile, Dogecoin transactions surged with over 70,000 numbers changing hands in the last 24 hours. The sudden spike in transactions may be the result of whales staking more DOGE. More so, the increased DOGE transactions can also be indicative of a massive selling pressure as whales may strategically move their funds from cold wallets to crypto exchange addresses. Dogecoin has consistently been doing great. As of this writing, DOGE is currently trading at $0.074, up 25% in the last seven days.  Suggested Reading | Polygon Price Explodes By 60% – Is MATIC Nearing $1 Target? Featured image from Train Magazine, chart from TradingView.com

The CEO of Thai crypto exchange Zipmex denied rumors of financial trouble just moments before the group announced it would pause withdrawals on the platform.

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

I just received this email from Zipmex Australia, notifying me that all withdrawals are suspended until further notice. Due to a combination of circumstances beyond our control including volatile market conditions, a series of black swan events in the industry, and the resulting financial difficulties of our key business partners we have considered that in…
Read more

I'm looking for a mobile wallet to store my ETH. What's a good and secure wallet to store my ETH. Would be cool if the wallet had extra layers of security and a good looking UI. I'm not holding that much ETH so I'm not considering getting a hardware wallet soon. Thanks in advance. …
Read more

Ukraine’s main law enforcement agency has busted an illegal facility mining cryptocurrencies in the Kharkiv region. The operators of the crypto farm have been minting coins using large amounts of stolen electricity, threatening energy supply to critical infrastructure, the agency said. Illegal Mining Farm Discovered in War-Torn Kharkiv Region Officers from the Security Service of […]

The merge is near, so it’s Ethereum time to shine. The eternal second most popular cryptocurrency by market capitalization has been outperforming bitcoin for the last few days. Is the reason the return of the market’s appetite for risk? Or is it just the fact that Ethereum’s developers announced a specific date for the mythical merge? Let’s examine the numbers, the facts, and the experts’ opinions to figure out exactly what’s going on. In The Weekly Update, Arcane Research’s newsletter, they point out that the ETHBTC pair surged “ from 0.053 on July 12th to 0.7 on July 19th.” It’s at “levels not seen since mid-May,” but why? According to Arcane, it “might be related to increased risk appetite in the market, evident by sharp altcoin recoveries across the board.” They identify another factor, “Celsius repaid its DeFi loans. This contributed to reducing the downward gravitational pull enforced by potential liquidations and contagion-related uncertainty.” And then, of course, there’s the merge. What Do The Experts Say About The Merge? The facts are the facts, Ethereum is on a roll. In a previous report, NewsBTC analyzed the state of the market: “Ethereum has now broken above an important technical point. After trending below the 50-day moving average for the better part of last month, ETH has flipped this technical level and is now sitting comfortably above it. The implication of this has been a complete 180-degree turn from bearish to bullish, especially during the short term.” As for the probable cause, Arcane Research already named two. The main one, though, is the possibility of the merge. Back to The Weekly Update: “On Thursday, July 14th, the Ethereum Foundation member Tim Beiko suggested Sept 19th as the tentative launch date for the merge. This might have benefited ETH, leading to last week’s surge. Following the announcement, Lido’s staked ETH token has neared ETH parity.” In another NewsBTC report, we quoted another expert trying to make sense of the situation. According to Youwei Yang, director of financial analytics at StoneX, the causes for the recent surge are: “The first is the recently announced time for the Ethereum “merge” update, which should make the network significantly more energy-efficient. Yang claims that the “calming” of macroeconomic anxieties is the second.” ETHBTC price chart on Coinbase | Source: ETHBTC by The Weekly Update Is Ethereum’s Merge a “Buy The Rumor” Event? The change from Proof-Of-Work to the Proof-Of-Stake consensus mechanism does use less energy, but brings its own set of problems with it. Discussing those is beyond the scope of this article. The important part of the equation for Ethereum holders is that the merge will finally bring native staking to the blockchain. The thousands of ETH already locked into the Beacon Chain will finally produce real results, and a new kind of user, the validators will rise.  Is this enough to justify the price surge? Absolutely. Is it guaranteed that the merge will happen on September 19th? Probably not, considering Ethereum has postponed its difficulty bomb five times already. ETH price chart for 07/20/2022 on Bitfinex | Source: ETH/USD on TradingView.com Is The Contagion Event That Sent Everything To Red Over? According to Arcane, “contagion seems to be resolving now, with prices stabilizing. This recovery may be viewed as a healthy confirmation of the market normalizing as market stress settles down.” Their interpretation of the situation might be overly optimistic, though. A pseudonymous Twitter user that identifies himself as “a trader/defi analyst at a major crypto fund and use Nansen almost daily,” thinks more pain is on the way with or without the merge. 4/ There are dozens of wallets just like these that 3AC still has with thousands of ETH. It’s very likely that all of these wallets are going to be liquidated in order to pay back creditors. Check out the number of funds that have been moved around from just one wallet alone. pic.twitter.com/75HkR097zV — jbjbjb (@bryptobricks) July 19, 2022 The Three Arrows Capital trial is still unfolding, and “3AC still has with thousands of ETH. It’s very likely that all of these wallets are going to be liquidated in order to pay back creditors.” If that happens, it’s “going to cause a harsh sell-off across the broader crypto ecosystem, setting up the next catalyst down.” Sorry to rain on Ethereum’s parade, but those are the facts. Good luck with the merge, though. Featured Image by Loic Leray on Unsplash | Charts by TradingView and The Weekly Update

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

Senator Emmer highlighted the SEC’s politicization of regulations and called them power-hungry regulators that discourage good-faith regulations.

Today I'll receive a ledger and the plan is to move my eth from the exchange to the ledger. Since my exchange support Arbitrum, I was thinking to use Arbitrum bridge to transfer my eth to the ledger, in order to limit the gas fee. What it's not clear to me is if I'll be…
Read more