Be warned … don't rush this market … already $200 MILLION has been liquidated on SHORT leverage trades … in just an hour and a half after the rate was announced … I'm not being clever just telling you that there are much bigger fish just waiting for someone to try to SHORT-on this kind…
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As the crypto market trended to the downside, Ethereum Classic (ETC) took advantage. The original Ethereum blockchain records double-digit profits across multiple timeframes and seems on track for future appreciation. Related Reading | Cardano Moves In The Red With The Market, Can The Price Of ADA Stay Above $0.46? At the time of writing, Ethereum Classic (ETC) trades at $30 with a 27% profit in the past day and a 20% profit over the past week. Data from Coingecko indicates that ETC’s price has been the best performing asset in the sector followed by Lido DAO (LDO). This cryptocurrency records a higher increase than ETC’s price in the past 24 hours with 41% profits. Ethereum Classic has outperformed it in the past week, but it’s noteworthy that these two cryptocurrencies are rallying. Lido DAO is a platform that offers users Ethereum (ETH) staking services. This allows retail investors to lock their ETH and receive a portion of the rewards from the upcoming Proof-of-Stake (PoS) migration without meeting the 30 ETH requirement. Ethereum Classic (ETC) Will Extend Gains With “The Merge” On the other hand, Ethereum Classic (ETC) is perceived as the alternative for ETH miners for when this blockchain completes its migration to a PoS consensus. This process is set to be completed in September 2022, with “The Merge”. An event that will combine Ethereum’s execution layer with its consensus layer, ETH core developers only recently announced a fix tentative data for its mainnet launch. The blockchain has seen two successful implementations of “The Merge” on major Ethereum testnets. This event represents the end of the ETH mining sector as it exists today. The PoS blockchain will validate transactions with a different mechanism. Thus, miners will have to scramble to secure other Proof-of-Work (PoW) networks, like Ethereum Classic. As the chances of “The Merge” mainnet implementation increase, ETC’s price seems likely to follow. Related Reading | Dogecoin Seen Doubling In Price, Despite Shedding 10% In Last 7 Days Data from Material Indicators shows an increase in buying pressure from investors with bid orders of around $1,000. This spike was recorded close to “The Merge” tentative mainnet launch announcement.
On Wednesday, the Web3 digital identity platform Unstoppable Domains announced the company has secured $65 million in financing in a Series A funding round led by Pantera Capital. The latest funding gives Unstoppable Domains a post valuation of $1 billion, pushing the blockchain startup up to unicorn status. Unstoppable Domains Joins the Growing List of […]
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So what everyone was expecting happened about an hour ago. Here are my thoughts: Market was expecting 75 point so this, alone would not come as a surprise or shock. As a matter of fact as I am writing this market slowly going up. Bank lending requirements are tightening and that process will accelerate. This…
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While the rest of the tokens are smothered in red Wednesday, Binance Coin (BNB) is relishing its place in the green zone for the third day in a row this week. Binance Coin’s price surged by 5.84% and is currently trading at $256.54 as of this writing. The coin currently has a total market cap of $41,367,894,785. The coin is primarily targeting 61.80% on the upside, and then shooting for the next target at $265.7. Its third target is 23.60%. Related Reading | Shiba Inu Whales Trading Volume Surges 640% As SHIB Holds Critical Support BNB is bracing itself on the downside at a fib level of 98%; next is at 127.20%, and the third at 161.80%. Its 24-hour price outlook is at the $293.6 to $249.8 range. The 24-hour price range for BNB is between $239.6 and $249.8. In addition, the coin’s weekly or 7-day price range is seen between $239.6 and $270.93. On average, the 30-day price is at $239.6, or a spike of 1.17%. For Reference: BNB Price On Same Date In 2021 At $313.7 Binance Coin was reported at $249.3 yesterday and in the green lane for the second day in a row. According to Fintech and crypto analysts, BNB is forecasted to end in 2022 at $274. Finder polled around 54 individuals and predicted that BNB price will shoot for $781 in 2023. Kevin He, CloudTech Group COO, made a forecast that BNB will gallop at $250 by the end of the year. More so, He predicted that BNB will soar to $1,000 by 2030, He believes that the coin will come on strong mainly because of Binance’s robust ecosystem. Joseph Raczynski, a Thomson Reuters futurist, and technologist, who believes in the power and dominance of Binance as a global change, is extremely bullish than other panelists. Raczynski is fully convinced that “While BNB is not decentralized; it still can serve a purpose for fast and cheap transactions. That has a cost though. Binance could change parameters on the token without general consensus and they are far more likely to be a single point of failure.” BNB total market cap at $41.5 billion on the weekend chart | Source: TradingView.com Related Reading | Cardano Joins The Red Screen – How ADA Fell To $0.45 Over Last 24 Hours BNB Seen Climbing To $3,000 In 2030 Ben Ritchie, Digital Capital Management managing director, believes that the BNB ecosystem is bound to continuously grow and can even soar to $3,000 in 2030. Meanwhile, BNB Chain is also bent to build a layer 2 chain in the Binance networks which are incredibly helpful in buffering the costs and expensive gas fees in the future which are also the same problems experienced by Ethereum. With Binance Coin issues with SEC, Martin Froehler, Morpher CEO, believes that SEC has this thinking that every single crypto is a security and that BNB was in effect sold to U.S. customers. Roughly 50% of the panelists recommend holding Binance Coin, 30% say yes to selling the coin, while 20% say to buy BNB. Featured image from Finance Zipmex, chart from TradingView.com
Data shows the Bitcoin investor sentiment has recently improved, but buyers are still reluctant as fear continues in the market. Bitcoin Fear And Greed Index Points To A Fearful Sentiment As per the latest weekly report from Arcane Research, the BTC market sentiment hit a high of 34 last week, but now it has once again fallen to just above extreme fear territory. The “fear and greed” index is an indicator that measures the general sentiment among investors in the Bitcoin market. The metric uses a numeric scale that runs from zero to hundred for representing this sentiment. All values above fifty imply greed, while those below the threshold suggest fear. Values towards the end of the range of above 75 and below 25 signify sentiments of “extreme greed” and “extreme fear,” respectively. Historically, tops have tended to form during extreme greed, while bottoms have taken place during the periods with the latter sentiment. Because of this fact, some traders believe it’s best to sell while the market is extremely greedy and buy when investors are extremely fearful. “Contrarian investing” is a trading technique that echoes this idea. The famous Warren Buffet quote sums it up: “be fearful when others are greedy, and greedy when others are fearful.” Now, here is a chart that shows the trend in the Bitcoin fear and greed index over the past year: The value of the indicator seems to have surged up during recent weeks | Source: Arcane Research’s The Weekly Update – Week 29, 2022 As you can see in the above graph, the Bitcoin fear and greed has observed some growth recently and is currently at a value of 26, suggesting a fearful sentiment is gripping the market currently. Preceding this latest improvement in the mentality was a long stretch of extreme fear, the longest in the history of the crypto, in fact. It lasted for 74 days. 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. Overall, the sentiment is certainly an improvement over the extreme fear hell of June, but the buyers still remain reluctant. BTC Price At the time of writing, Bitcoin’s price floats around $21.3k, down 10% in the last week. Over the past month, the crypto has gained 2% in value. The below chart shows the trend in the price of the coin over the last five days. Looks like the value of the crypto has gone down over the last few days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Arcane Research
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“NFTs can aid in the documentation of the creator community through smart contracts,” said Kushner.
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