Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

Bitcoin Drills Into $22,000 Level – But Not All BTC Investors Are Jubilating

Bitcoin (BTC) is now showing signs of vigor, after weeks of being smothered in crimson, and drilling past the $21,000 level, to the delight of some crypto investors. As of this writing, the most sought after crypto asset is trading at $22,200, up 13% in the last seven days, data from Coingecko show, Friday. BTC reclaimed the $20,000 threshold on Wednesday, seven days after going below it. The cryptocurrency is trading at less than 70 percent of its all-time high near $69,000, but is currently far above its mid-June selloff low of $18,000. Friday, the market capitalization of all cryptocurrencies increased by about 2 percent over the previous day. On the same day, the global crypto market was valued at $919 billion. Suggested Reading | Ethereum (ETH) Shifts To High Gear – Crosshair Locked At $1,250? Bitcoin Green Day – On To The Next Support The volume of the cryptocurrency market, on the other hand, decreased by more than 18 percent over the past 24 hours, according to statistics from Coingecko. Friday’s crypto market volume was estimated at $55.25 billion. According to Harris Financial Group Managing Partner Jamie Cox, the “Green Day” on the markets comes in the wake of rising unemployment claims in the U.S., which could indicate that the “pressure on wages may have now peaked.” After a transition above the $20,500 level, the price of BTC began a steady ascent and tested the $22,200 mark, where it encountered selling interest and proceeded to $22,100. The next significant support is close to the $21,500 territory, below which the price may fall to the $21,200 level. The next significant resistance level is near $22,500; over this level, the price might climb to $23,000. BTC total market cap at $415 billion on the daily chart | Source: TradingView.com Some Analysts Are Not Ecstatic By BTC Rally Some observers maintain that the crypto’s trajectory remains negative. “Roman” on Twitter said, “Many are growing exuberant and bullish as we have repeated identical candle patterns over the past eight months.” According to him, BTC’s break of the $22K barrier is the latest in a string of “fakeouts” that will mislead many traders into assuming the bottom has been reached, despite the fact that the trend remains unfavorable. Suggested Reading | Sandbox (SAND) Having A Blast With 12% Spike In 24 Hours “Since the last four days, BTC has been on a small uptick… The sentiment on the crypto market continues to be “extreme fear,” and the daily trend for BTC remains within a downward band shape,” analysts at the WazirX said. Others are less confident. Will Clemente, crypto analyst for the mining company Blockware, cited the 200-week moving average (WMA) of $22,520 as a significant statistic. “The price decline could continue if BTC price remains below this level,” he stated. Featured image from Finshots, chart from TradingView.com

Former Tiktok Gaming Boss Launches Metao, a ‘Blockchain Agnostic’ Gaming Company

Jason Fung, former head of gaming at Tiktok, the video-based social media, is launching a blockchain-based gaming startup. The company, called Metao, will focus on providing “blockchain-agnostic” solutions that will allow Web3 game creators to expand their reach and not be limited to just a chain and an ecosystem tied to a certain token. Metao […]

6 Best Crypto Indicators for Trading

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Nifty News: Total BAYC thefts crack $18.5 million, “Ape Now, Pay Later” loans come for NFTs and more

The total value of stolen BAYC NFTs has cracked $18.5 million, BNPL comes for NFT buyers and Australia makes big moves in the non-fungible space.

Ethereum activates the merge on sepolia testnet

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Colombia Issues Guide for Implementing Blockchain for Public Projects in the Country

The Ministry of Information Technologies and Communications of Colombia, Mintic, has issued a guide that describes the steps to implement blockchain in projects directed at the state level. The document defines blockchain and its basic elements, and also describes the guidelines that some projects should follow, depending on the needs of each project. Colombia Issues […]

Aave to launch overcollateralized stablecoin called GHO

GHO would allow users to borrow the stablecoin while still learning yield on their locked assets on Aave, however the proposal is just seeking feedback at this stage.

Found this cute comic on Frax Finance!

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TA: Ethereum Rallies 8%, Why BTC Could Surge Above $1,300

Ethereum gained pace and cleared the $1,200 zone against the US Dollar. ETH is up 8% and might continue to climb higher towards $1,300 or $1,320. Ethereum extended gains and climbed above the $1,200 resistance zone. The price is now trading above $1,200 and the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $1,210 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it stays above the key $1,200 support zone. Ethereum Price Gains Momentum Ethereum remained well supported above the $1,120 level. The price started a fresh increase and was able to clear a major hurdle near the $1,150 level. It opened the doors for a sharp increase above the $1,200 level. Ether price even broke the $1,250 level and traded to a new monthly high at $1,276. It is now trading above $1,200 and the 100 hourly simple moving average. The price is testing the 23.6% Fib retracement level of the recent increase from the $1,162 swing low to $1,276 high. There is also a crucial bullish trend line forming with support near $1,210 on the hourly chart of ETH/USD. An immediate resistance on the upside is near the $1,275 level. Source: ETHUSD on TradingView.com The next major resistance is near the $1,320 zone, above which the price may perhaps gain strength. In the stated case, the price could rise towards the $1,350 resistance. If the bulls remain in action, the price might climb towards the $1,420 zone. Dips Limited in ETH? If ethereum fails to rise above the $1,275 resistance, it could start a downside correction. An initial support on the downside is near the $1,230 zone. The next major support is near the $1,210 zone. It is close to the 50% Fib retracement level of the recent increase from the $1,162 swing low to $1,276 high. A downside break below the $1,210 support may perhaps send the price towards the 100 hourly simple moving average or $1,160. If the price fails to stay above the 100 hourly SMA, it could even slide towards the $1,120 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now well above the 50 level. Major Support Level – $1,210 Major Resistance Level – $1,275