Most of us are here to try and better our lives due to the global financial system being controlled by a few people on top. A recent OECD paper analyzed the distribution of household wealth across 28 countries and it found that wealth inequality is twice the level of income inequality on average. One of…
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Hello Everyone! I just wanted to reach out and see if there is an interest in being able to run a rocketpool staking node in Windows. I know Linux is not difficult to learn, but I was wondering it it would help some people run a home node if it was an easy executable install.…
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Just now in, Binance US exchange has delisted the crypto AMP following the unproven and unbaked allegations by the SEC from a few days ago that it is a security. The very fast Binance US response was not required nor it was some legal part, it's just them trying to go extra-safe while pleasing the…
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Tron (TRX) has eclipsed its past performance and has been up 15% in the last five days. The TRX/BTC pair registers an increase of 0.28% at 0.000002895 BTC. The token is now sweeping through an uptrend wave as seen in the daily price chart. There is an obvious power struggle between the bulls and the bears which impacted the price but it seems neither was able to pull off a riveting dominance in the market. It helped that Bitcoin (BTC) did some heavy lifting as its price briefly soared above the 24K price zone which also propelled the entire market up. Tron Still Grappling With Losses TRX price surged by over 15% in just five days but it’s still grappling with losses in the part of the investors. With that being said, Tron still needs to get more buyers to speed up the recovery train. The price registered at a low of $0.068 and spikes continuously with the increased buying pressure. As of now, TRX coin trades at $0.071 showing an increase of 3.46% in terms of market cap seen in the past 24 hours. The coin is showing a trading volume that catapulted 557 million which reveals a 22.18% loss seen in the past 24 hours. The altcoin currently has a total market capitalization of 6.5 billion. On a 4-hour chart, TRX price showcases a robust uptrend momentum. Evidently, the RSI is also showing that the price is overbought as increased selling activity is pushing the price. Current RSI is almost 70. So, the buyers who are looking to penetrate the market should wait. The MACD that supports the uptrend indicates that the buyer’s line is gliding over the green lane. TRX Hits $0.075 Critical Level Tron (TRX) was rolled out in 2017 by founder Justin Sun. However, it was a disappointment when Sun decided to abandon Tron as he ventured to other projects. Following Sun’s exit, TRX price has suffered massively and was unable to beat its all-time high in 2018. Technical analysis on the past couple of months showed that TRX has been on a downtrend following its ATH in April 2021 which touched the high of $0.18. Ever since, TRX price wasn’t able to break away from the downward slope. For TRX to switch into a bullish standpoint, the price must reach the $0.075 level and if BTC continues to perform well which has happened for five straight days for Tron. Crypto total market cap at $1.06 trillion on the daily chart | Source: TradingView.com Featured image from Coin Payments Blog, chart from TradingView.com
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Bitcoin has entered into a new month, but its price has not been doing as well as expected. The end of July had indeed come with good tidings as the bitcoin price had broken above $24,000. However, maintaining this point has been a harder task. As the market welcomes the new month of August, bitcoin has not had the best of starts to the new month, entering it with a red daily close. Bitcoin Going For The Win? Bitcoin’s recovery over the last week has been propelled forward by different things. The most recent one was the announcement that the United States was now in a recession after recording two consecutive negative GDP growth, causing individuals to find where to park their wealth. Bitcoin naturally provided the perfect hedge for people who were looking to escape the growing inflation, triggering a massive accumulation trend. Related Reading | Impressive Rally Puts Bitcoin Above $24,000, But Is $28,000 Still Possible? It had seen the price of bitcoin quickly break multiple important technical levels. The 26th and 27th had been really good days for bitcoin after the digital asset closed both days in the green. But that will quickly change in the next couple of days. With the new month, bitcoin has now seen its 3rd consecutive daily red close. Now, this is not alarming in any way, given that the digital asset is in a bear market, but it does speak to the performance of the digital asset in the coming days. BTC falls to mid-$23,000 | Source: BTCUSD on TradingView.com An example is that if there is no immediate recovery, the decline that will follow will see the cryptocurrency’s price plunge more than it actually gained in its recent recovery. What this means is that a failure to hold this bullish rally could set bitcoin back to the $20,000 love. Obviously, bitcoin has previously seen significant support at this level and continues to see mounting support at the same point, but it makes no difference if there is not enough buying pressure on the market. Also, as investors rush to take profits over the recent recovery, the selling pressure may overwhelm traders and turn their focus to shorting the market. Related Reading | New Milestone May Be The Kick Dogecoin Needs To Break $0.1 The digital asset has already lost more than $2,000 over the last two days. It has also declined below its 50-day moving average once more, the same technical level that had been one of the indicators of the bear trend in previous markets. For bitcoin to establish a bullish trend, it must break above $24,800 and hold this level. Otherwise, there is likely to be a rapid decline in price over the next couple of days. Featured image from Forbes, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
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While the stablecoin economy is worth roughly $153 billion today, euro-backed stablecoin issuance has increased 1,683% from $31.9 million worth of euro-based tokens on January 3, 2020, to today’s $569 million. Since November 2021, the number of euro stablecoins swelled by 85.34%, but from January 2022 to today, euro stablecoin numbers dropped 14.17% during the […]
MATIC’s market cap is 69% below its all-time high, and the network’s TVL and DApp data haven’t picked up recently.
BTC price action avoids a disappointing monthly close, but market players are demanding more proof of fundamental strength.
