U.S. Senator Elizabeth Warren says that “too many crypto firms have been able to scam customers and leave ordinary investors holding the bag while insiders make off with their money.” She stressed the need for stronger rules, urging the Securities and Exchange Commission (SEC) and Congress to take action on crypto regulation. U.S. Senator Says […]
Swell Network (Swell), a permissionless, non-custodial, and liquid Ethereum (ETH) staking protocol, announced today a strategic partnership with InfStones, a provider of decentralized blockchain infrastructure on one platform, to enable greater flexibility, transparency, and yield in ETH liquid staking. Facilitating staker choice, Swell allows stakers to select the node operator they wish to stake ETH…
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MATIC propelled significantly over the last 24 hours driving price of the asset close to the dollar mark. It has followed the path of an upward trendline and soared substantially. MATIC has continued its bullish price trajectory since a week and the asset brought double-digit gains. The altcoin has broken past several crucial resistance marks and now stands above the $0.77 support line. Pullback chances cannot be ruled out as the coin has been quite optimistic in the last week. Bitcoin recently touched the $22,000 level pushing major altcoins in the upward direction. The altcoin’s bulls are now in control as the buyers have regained confidence in the coin. MATIC was overvalued at the time of writing. Technical outlook for the coin remained bullish on the four hour chart. The altcoin has continued to form higher highs which are an indication of bullish strength on the chart. If the bulls keep up the present price momentum, MATIC will soon revisit the dollar mark. MATIC Price Analysis: Four Hour Chart The altcoin was trading at $0.903 on the four hour chart. MATIC was very close to revisiting $1.00. If buyers keep up the momentum, MATIC will continue to soar upwards. Overhead resistance for the coin stood at $1.00. In case of a pullback, the closest support level for MATIC was at $0.77, below which stood the $0.68 mark. The altcoin has maintained an upward trajectory (yellow line) painting bullish picture on the chart. Amount of MATIC traded increased over the last few days and that is indicative of mounting bullish strength. Technical Analysis With increased buying momentum, the asset registered surplus buying strength. The indicators depicted the same on the four hour chart. The Relative Strength Index over the past few days have visited the overvalued zone. At press time, RSI was in the overbought zone. Usually a pullback occurs when the asset visits the overbought zone. The price of MATIC was also way above the 20-SMA line which is suggestive of buyers driving the price momentum in the market. Price above the 50-SMA and 200-SMA is considered to be sign of heavy bullishness. Related Reading | Bitcoin Breaks Above Realized Price Again, Bottom Finally In? The altcoin flashed buy signals on the chart which the other indicators have taken into account. Awesome Oscillator indicates the price direction and changes in trends. AO pictured tall green signal bars as the coin turned green which were also buy signals. Parabolic SAR depicts market momentum of a crypto, dots below the price always indicates upward price momentum. For MATIC to maintain the momentum, the coin has to cut through the $1.00 mark and maintain substantial buying strength. Broader market support also remains vital. Related Reading | Liquidations Cross $230 Million As Ethereum Barrels Past $1,400 Featured image from Forbes.com, chart from TradingView.com
The .metaverse, .vr, .web3 and variety of top-level domains are now available for minting on Quik.com. Embrace yourself and your holdings on the web and its decentralized nature with this offer valid for a limited time. Check out Metaverse Domains on Quik now. Connecting the sellers and buyers in the most convenient way with a […]
Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading,…
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I bought a few NFTs on it but i'm a bit brain dead with stuff like that just try to follow the motions, seemed relatively easy to use and do everything connected my wallet and fees were cheap seemed ok. One of the features I really like is that it shows you the floor price…
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The Dutch central bank has fined cryptocurrency exchange Binance 3.325 million euros for offering crypto services in the Netherlands without the legally required registration. Binance has appealed against the fine and has now submitted an application to register with the central bank. Binance Fined by Dutch Regulator The Dutch central bank, De Nederlandsche Bank (DNB), […]
The crypto market had suffered a long stretch of downtrend following the mid-June market crash. This had brought the total market cap down to yearly lows as large and small cryptocurrencies alike suffered. However, there is starting to be a turn in the tide with the new week. The crypto market cap, which had been trending below $900 for the better part of the week, had put on $100 billion. Crypto Sentiment Begins To Turn The crypto market cap still remains below $1 trillion but it has recovered to a good point. With the price of bitcoin above $22,000, it has gotten close to reclaiming this crucial position. Another thing that has pushed the crypto market cap has been the recovery of Ethereum, whose recent bullish tendencies have rubbed off on other smart contract platforms in the space. Related Reading | Bitcoin Marks One Month Of Negative Funding Rates, More Decline Incoming? With this, the sentiment of crypto investors has begun to shift. One of the ways in which this has happened has been in the reading of the crypto Fear & Greed Index. This index uses data from five different metrics to present a figure that represents how investors are feeling toward the market. Crypto market cap recovers close to $1 trillion | Source: Crypto Total Market Cap on TradingView.com For the better part of June, the index had been in the ‘Extreme Fear’ territory. This was as the bear trend raged on, and investors had taken a step back from the market due to the losses. This saw the market close out the month with one of the lowest scores in the interest of the index with a 6. However, as some cryptocurrencies in the market have recovered, so has the market sentiment. The Fear & Greed Index presently sits at a score of 20 at the time of this writing. So although it still remains in the extreme fear territory, it is up 14 points from last month’s close. Related Reading | Mid Cap Crypto Coins Lead In July, Best Way To Weather The Winter? There is no doubt that bitcoin’s recovery above $22,000 has a lot to do with this. The pioneer cryptocurrency is a market mover, and if it continues to grow, it is expected that market sentiment will recover more. One thing to note, though, is that such large recoveries in such a short time can lead to sell-offs. Mainly, investors often see such moves as a ‘bull trap’; hence they try to get out of the market before the inevitable retracement. Over the last 24 hours, there have been more BTC going into centralized exchanges with a positive net flow of 725.2 million. This supports the fact that investors are taking this time to sell their holdings. Featured image from Kapersky, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
Following strong weekly double-digit gains from Bitcoin and a number of big-cap altcoins, the cryptocurrency market capitalization surpassed $1 trillion. $1 Trillion Market Crossed Again For the first time since June 13, a significant gain on Monday in both bitcoin and ether helped lift the market worth of cryptocurrencies back beyond the $1 trillion level. The largest cryptocurrency has reached its highest prices since a selloff in mid-June brought the price of bitcoin down from $30,000 to as low as $18,000, rising 5% in the last 24 hours to $22,300. During the late 2017 bull market surge for bitcoin, that same level served as a strong region of resistance, and in technical analysis, old resistance typically turns into new support (and vice versa). Crypto market cap above $1 trillion threshold. Source: TradingView For cryptocurrency investors, Monday’s profits should come as a relief after the preceding nine months have seen them endure a terrible bear market. As a result of the prolonged bear market in cryptocurrencies, $2 trillion in market value has been lost, and several crypto companies, including Celsius, Voyager Digital, and Three Arrows Capital, have gone bankrupt. Despite analyst predictions that the Federal Reserve would increase interest rates by at least 75 basis points at the Federal Open Market Committee meeting on July 27, the traditional markets are mildly higher on the day that cryptocurrencies are generally in the black. While traders may like the uptick in price on July 18, several analysts warn that it is merely a bear market pump. Related Reading | Bitcoin Bearish Signal: Exchange Netflows Spike Up Bitcoin Poised For Rebound According to TradingView data, Bitcoin has made considerable gains over the past week. At the time of writing, BTC had risen by 16 percent from its most recent low of $18,907. The most valuable cryptocurrency is currently bumping up into resistance at the 200-week moving average, which also happens to be the top of the trading range that BTC has been stuck in since the middle of June. Over the past five weeks, attempts to break above this level have been repeatedly rejected, proving it to be a difficult nut to crack. It is yet unclear whether Bitcoin will be able to overcome this barrier and climb higher or if it will continue to fluctuate between $19,000 and $22,000. $BTC battling that 200 Week MA again. Rejected 3 times in the last 5 weeks here. Decision time imo. We either have a fat breakout or fat breakdown. $ETH has been leading the market so far, along with many other altcoins. Breakouts occurring everywhere. Can $BTC follow suit? pic.twitter.com/6Cz49po8CH — Taner ⚡️ (@Taner_Crypto) July 18, 2022 The major distinction between the present bear market and previous cycles, according to Glassnode’s most recent newsletter, is “duration” and many on-chain measures are now comparable to these historical drawdowns. Realized price, which is calculated as the value of all Bitcoin divided by the quantity of BTC in circulation, has shown to be a good indicator of bear market bottoms. Number of days Bitcoin price traded below the realized price. Source: Glassnode With the exception of the flash crash in March 2020, which is depicted on the above chart, Bitcoin has consistently traded below its realized price for a protracted period of time throughout bear markets. Glassnode explained: “The average time spent below the Realized Price is 197-days, compared to the current market with just 35-days on the clock.” Related Reading | Bitcoin Breaks Above Realized Price Again, Bottom Finally In? Featured image from Getty Images, charts from TradingView.com
On Monday, July 18th of this week, ABBC Foundation, a Dubai-based crypto & blockchain ecosystem, announced the successful launch of its new decentralized exchange (DEX) ‘DOMINO’. The DEX is initially listed with assets on Binance’s BNB Chain (BNB), while new features and chains are soon to be implemented on the platform. “Our goal is to…
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