Category: Cryptocurrency News

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The Central African Republic’s token sale appeared to have gotten to a slow start after less than 13 million out of the 210 million Sango coins were sold since the commencement of the sale on July 25. The country has claimed its decision to adopt bitcoin has won praise from “other African countries exploring the […]

The table below represents Brave initiated BAT purchases for July [so far]. Date Tokens Source 2022-07-26 27,165 Gemini 2022-07-25 350,000 Gemini 2022-07-12 456,216 Gemini 2022-07-11 400,000 Gemini 2022-07-11 375,000 Gemini 2022-07-09 299,905 Gemini Honestly, this monthly, built-in, buy pressure is my favorite part about the Basic Attention Token. As the Brave team continues to grow…
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Polkadot has surged on its chart by 4% over the last 24 hours. In the past week, DOT remained quite optimistic as it registered a 7% increase in its value. The price momentum has held on to bulls at the moment. After moving past the rigid resistance of $8, the bulls have regained strength. Technical outlook also pointed towards a positive price action for DOT. Buying strength of the altcoin has also noted an increase, which has contributed to rise in price. If demand remains consistent in the market, it would be easy for Polkadot to cross its next resistance mark. As Bitcoin continued to inch northwards and was trading above the $23,000 mark, altcoins have been positively affected by this price movement. Currently, the bulls are trying to maintain the recovery mode that DOT had displayed on its chart. The global cryptocurrency market cap today is $1.14 Trillion, with a 0.6% negative change in the last 24 hours. Polkadot Price Analysis: Four Hour Chart DOT was trading at $8.20 at the time of writing. The altcoin has managed to break past its tough resistance mark of $8. This has made the bullish force stronger in the market. The demand for the coin has also helped with the recovery. Overhead resistance for the altcoin was at $9 and incase DOT manages to trade above that level, it could soon enter the double-digit price zone. A fall from the current price level will however make DOT land up at $7.20 first and then at $6.87. Amount of Polkadot traded in the previous session fell slightly indicating that selling pressure might be trying to make an entrance on the chart. Technical Analysis The altcoin was quite bullish on the short time frame. It recently traded in the overbought zone as the coin staged a rally over the last 7 days. The buying strength has remained in the positive and has taken over selling strength too. The Relative Strength Index displayed a tiny downtick in buying pressure, although, the buying pressure remains a lot more than selling pressure at press time. Polkadot was above the 20-SMA line, a sign that the buyers were driving the price momentum of the altcoin. DOT was also above the 50-SMA and 200-SMA, a depiction of increased demand and bullish force in the market. Related Reading | Impressive Rally Puts Bitcoin Above $24,000, But Is $28,000 Still Possible? DOT’s technical outlook reflected a surge in demand on the four hour chart. Moving Average Convergence Divergence reads the price momentum and possible shift in the price action. MACD underwent bullish crossover and gave rise to green histograms above the half-line indicating bullishness and buy signal. Directional Movement Index reads the price direction and movement on the chart. DMI was positive as the +DI line was above the -DI line. Average Directional Index (Red) was above the 40-mark, this meant that the current price action was strong. Related Reading | Polkadot (DOT) Grinds 15% Higher Amid Sustained Buying Featured image from Invezz, chart from TradingView.com

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Sorry if this question may sound stupid. Vitalik Butterin said that "in the medium to long term ZK rollups will win out in all use cases as ZK-SNARK technology improves." (https://vitalik.ca/general/2021/01/05/rollup.html#conclusion). It means that he truly believes in the power of zk proofs technology. He thinks that they may be the best answer to scale…
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Ripple’s general counsel has urged U.S. lawmakers to pass “sensible crypto legislation” amid a Securities and Exchange Commission (SEC) lawsuit over the sale of xrp. “Rather than providing regulatory clarity through rulemaking, the SEC is bullying crypto markets by filing unproven allegations masquerading as regulation,” he opined. Ripple’s Counsel Calls for ‘Sensible’ Crypto Regulation Stuart […]

My understanding is that there are 4 main factors in assessing a L1 or L2 solution: Security (how easy is an attack possible), scalability (how cheap is gas), finality (speed of tx), bridging (transferring funds from L1 <> L2). My question is, would the nature of the project itself be a factor in choosing which…
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Two days ago, Nirvana suffered an exploit in which an attacker drained the reserves of approximately $3.5mm worth of stablecoins, which amounted to nearly all of the external assets in the system. This reserve collateral is the necessary backing for ANA & NIRV, without which the algorithmic properties of the tokens cease to function as…
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It’s safe to say CZ is bullish on bitcoin and crypto’s future. Changpeng Zhao visited CNBC’s Squawk on the Street and flipped the prevalent bearish narrative on its head. In less than 2 minutes. Most of the things CZ said are based on common sense and a basic understanding of market forces, but still, it’s calming to hear a leader of the industry saying them. Especially in this fear-ridden stage of the cycle we’re in. .@binance CEO @cz_binance: The macroeconomics situation will be high inflation, the talk about recession…all of those things drive adoption into #Bitcoin.@CNBC pic.twitter.com/EP8OHwPeAa — Squawk on the Street (@SquawkStreet) July 28, 2022 Notice that even though Binance’s business is dependent on altcoins’ performance, especially BNB, CZ makes a clear distinction between bitcoin and crypto in general. On the other hand, even though the interview is about bitcoin, CZ sneaks crypto here and there.  In any case, let’s analyze what Binance’s CEO thinks about the current market conditions and the future of bitcoin and crypto. What Did CZ Squawked On US National TV? The first thing the interviewer was interested in was the way that bitcoin bulls have defended the “20Kish” line. According to CZ, that was “the last peak” so there’s a “psychological barrier” there. So far, bitcoin’s price had never go lower than the previous cycle’s all-time high. This time it was different, probably because of Tesla’s paper hands and the Terra collapse. However, the market ended up defending the 20K line. The interviewer then asked about other factors, like the increase in money supply or bitcoin’s correlation to Nasdaq. According to CZ, those are two relevant factors, but in the end “it’s a mass psychology market” and the last ATH is the barrier. It’s only fair that we quote Binance Academy for an explanation of the psychology of market cycles: “In short, market sentiment is the overall feeling that investors and traders have regarding the price action of an asset. When the market’s sentiment is positive, and prices are rising continuously, there is said to be a bullish trend (often referred to as a bull market). The opposite is called a bear market, when there is an ongoing decline in prices.” Recently, as we regularly do here at NewsBTC, we checked on the famed fear and greed index for insights into the current market sentiment. This is what we found: “Last week, the indicator’s value had risen up to even 34 as the coin’s price saw a recovery rally. However, as the run ended and the crypto once again slumped down, so did the sentiment among the investors. The report notes that this trend indicates participants in the BTC (and wider crypto) market believe that this recent rally was just a fakeout.” BNB price chart on BinanceUS | Source: BNB/USD on TradingView.com What’s the next catalyst? Back to the interview, the next question was about what factor could catapult bitcoin and crypto into their next chapter. Cautiously, CZ said that no one can forecast that accurately. “Nobody really forecasted NFTs, DeFi, etc. Which probably drove the last bullrun.” And in 2017, ICOs seemed to be the catalyst. “Six months before those things happened, very few people can forecast it.” In bull markets, exercise risk management. If everything went to 0, will your life still be ok? If no, you invested too much. Reduce it by half and ask again. Don't over invest. (Not financial advice) — CZ 🔶 Binance (@cz_binance) July 29, 2022 Then and only then, CZ speculated. He thinks that the market is so much bigger this time around, with so many new applications being developed. The whole space is moving in a positive direction, with most countries adopting regulatory frameworks instead of banning bitcoin and cryptocurrencies. It’s hard not to be bullish in an environment like this, even if the market is still fearful about the prices. The last phrase is the funniest, and it goes into the current state of the world. “The macroeconomic situation, there’s going to be high inflation, the talk about recession, etc. All of those things drive adoption into bitcoin… into crypto.” Featured Image: CZ, screenshot from the video | Charts by TradingView