According to the lead rates and regulatory strategy analyst at Duke Energy Corporation, the second-largest U.S. energy corporation is currently studying bitcoin mining. Lead analyst Justin Orkney said that a bitcoin demand response (DR) study was being worked on and the energy firm is partnered with bitcoin miners that are enrolled in Duke’s DR programs. […]
The Monetary Authority of Singapore may consider “placing limits on retail participation” for investors, as well as introduce rules on the use of leverage for crypto transactions.
You can see the glass half full or half empty. If you believe that your favorite cryptocurrency will get back to its ATH here is how much it would be worth with a 1K USD investment. Glass empty crowd here is how much some of these coins has dropped from ATH. For example, for BTC…
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Bitcoin has come out of the weekend with less than favorable performance but it has not been all bad for the digital asset either. After falling below $20,000, it trended low towards the end of last week. However, the cryptocurrency has been able to hold the $19,000 level despite efforts from the bears to pull it down. This has been due to a number of factors but most importantly is the support that has been forming at this level. Support At $19,000 After struggling to hold above $19,000 for most of last week, the digital asset had subsequently found its footing above $19,000. This price point is important for bitcoin given that it was where its previous cycle peak had occurred. Although it had actually broken below this point multiple times this year already. However, with the recovery above 19,000 once, the bulls look to have found their spot and the support at this level has been growing. Related Reading | Leading Crypto Exchanges See Negative Funding Rates, Have The Bears Taken Over? It is propelled forward by bitcoin investors who are taking this as a cue to buy the digital asset for cheap. Mostly, whales have been the most active during this time even amid the extremely low investor sentiment. These whales who are purchasing their tokens on spot continue to fill their bags. Data shows that these wallets that hold more than 1,000 BTC on their balances have added 140,000 BTC per month, which has brought their total holdings to 8.69 million BTC. This means that these bitcoin whales now hold 45.6% of the total circulating supply. BTC continues recovery trend | Source: BTCUSD on TradingView.com The whales are not the only ones buying up bitcoin. Smaller holders with less than 1 BTC have also ramped up their activities by buying at these prices. They have added to their balances at a rate of 36,750 BTC per month, bringing their total holdings to 1.12 million BTC, or 0.2% of the circulating supply. Will Bitcoin Continue To Hold? As of the early hours of Monday, bitcoin had begun another recovery trend that has put the price above $19,300. Although not a significant recovery by any stretch, it has put the digital asset on a green start to the new week. Related Reading | New Bitcoin Record Paints Incredibly Bearish Picture As BTC Struggles At $19,000 Nevertheless, the digital asset continues to trade below important technical levels such as the 50-day movie average. Due to this, the chances of bitcoin holding the recovery trend through the rest of the week remain slim as there is not enough demand to offset the coins being dumped by the sellers. This means that while the price will likely recover above $19,500, there may be another downtrend before the day is over. This will put the mounting support at the $19,000 level to the test. But if bitcoin can continue to hold and the market sees a significant spike in demand, the next major resistance awaits the cryptocurrency at $20,500. Featured image from FortuneBuilders, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
Voyager just sent out a mass email to everyone about how they froze withdrawals last Friday and if you started a withdrawal before the announcement it will still be processed. Here is the email: As we have shared, Voyager temporarily suspended deposits, withdrawals, trading and loyalty rewards at 2:00 p.m. EDT on July 1, 2022.…
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After reaching a level last seen in November 2020, the average Ethereum gas fee is now below $1. Ethereum Gas Fees Falls The Ethereum network experienced transaction fees as low as 69 cents on Saturday, which has not happened in the previous 19 months. The following day, gas prices reached $1.57 or 0.0015 ETH, which is equivalent to December 2020’s numbers. Transaction costs on the network today ranged from 20 cents to merely 20 cents, with 20 cents being the highest. Gas prices in the Ethereum ecosystem ranged from $0.01 to $0.10 from July 2016 to May 2017. Users are now assessed a substantial cost; in May 2021, average transaction fees reached $69 per transaction. The highest gas price ever observed was $196.683 in May 2022. Notably, the Ethereum blockchain has struggled to become widely used, much to the chagrin of users, due to the high cost of gas or network fees, payments necessary to complete a transaction on a blockchain. NFT holders are seen profiting from the decline as the numbers dwindle. Source: Bitinfo charts DappRadar reports that 50,466 people have traded their assets in OpenSea, up 10.14 percent from the previous day. At the time of writing, the largest NFT market’s trading volume increased by 34.18 percent to $15.92 million. All of the top 20 collections, led by Ethereum Name Service, DopeApeClub, God Hates NFTees, Bored Ape Yacht Club (BAYC), and Mutant Ape Yacht Club (MAYC), were transacted within Ethereum, according to data from DappRadar. Related reading | TA: Ethereum Close Below $1K Could Spark Larger Degree Downtrend Price Slumps Further The analysis of the price of ethereum is bearish due to consolidation near $1,050 and rejection of further recovery. As a result, ETH/USD is prepared to decline even further and surpass the $1,000 local support. After that is finished, the prior swing low at $900 should be challenged the following week. The decline approached the $1040–$1000 area that serves as a close support and was accompanied by a sharp increase in demand pressure. The numerous smaller price rejection candles at this point represent attempts by sellers to break through this support that were unsuccessful. Therefore, the renewed positive momentum could encourage buyers to again attack the overhead barrier of $1260, providing ETH holders with a chance for a recovery. ETH/USD consolidates above $1k. Source: TradingView At the start of the week, a significant new swing bottom was established in the price movement of ethereum. After falling by more than 21%, the price of ETH/USD hit a new low at $1,000. From then, a swift upward reaction continued to the $1,115 level, where Friday’s rejection of further recovery was observed. Following sideways consolidation, lower local highs and lows were set. Since then, the $1,050 level has functioned as the main trading range, with this morning’s denial of further gains. As a result, ETH/USD is prepared to drop even more and try to surpass the current low of $1,000. If the traders continue to be persuaded by the sellers to break through the bottom support, the next decline could drive the price of ETH down by 12.56% to $880. Related reading | Ethereum (ETH) Bends Toward $1,000 As Doubt Fills Crypto Markets Featured image UnSplash, chart from TradingView.com
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Bitcoin and altcoins have held their immediate support levels, suggesting the start of a relief rally in the short term.
Question for those smarter than myself…. With all the uncertainty right now with centralized exchanges and the potential of defaulting; are the coins currently staked (ETH2) on Coinbase safe in the event Coinbase becomes insolvent? submitted by /u/Novel_Development898 [link] [comments]
