Category: Cryptocurrency News

Luxury brand Lacoste has joined the web3 ecosystem with the launch of UNDW3 – pronounced underwater. The company announced this forward-looking move through a press release. The UNDW3 universe will let the Lacoste community participate in furthering the brand’s fashion-sport vision. According to the press release, UNDW3 allows Lacoste community members to own the brand in a creative way. In preparation for UNDW3’s launch, Lacoste rolled out its Discord server on June 6. The Discord channel will help keep each community member informed about developments in Lacoste’s web3 universe. Eager to see what the Lacoste web3 ecosystem comprises, over 30,000 people subscribed to the Discord channel within the first 48 hours of its launch. Lacoste plans to drop its first non-fungible token (NFT) collection on June 14. The collection will comprise 11,212 pieces, with each NFT going for 0.08 Ethereum (ETH), approximately $100-$120. The NFTs will feature unique images of the Lacoste crocodile emerging from the water. The number of NFTs represents the iconic L1212 polo shirt, which Lacoste founder René Lacoste invented. According to Catherine Spindler, Chief Brand Officer at Lacoste, “UNDW3 attests to our desire to accompany the phenomenon of decentralization driven by Web3 and bears witness to our ambitions in this area as well as to the power of our brand: to bring together our communities and connect cultures around the crocodile, a true rallying sign throughout the world, by proposing an experiential, interactive and co-creative universe, in the image of Lacoste’s creativity and avant-gardism.” The first step in a long journey By holding the Lacoste NFTs, collectors will get access to the brand’s web3 universe – a long-term collaborative community. Additionally, collectors will be able to access a pioneering ecosystem as well as digital and physical benefits in the Lacoste world. With its foray into the web3 ecosystem, Lacoste demonstrates its mission to connect various communities and cultures. Specifically, the initiative seeks to bring together NFTs, Lacoste fans, and pop culture enthusiasts. It is worth noting that UNDW3 is Lacoste’s initial step into the web3 ecosystem. Through UNDW3, Lacoste has become the latest fashion brand to join the emerging web3 ecosystem. In the past, brands like Gucci, Philipp Plein, and Louis Vuitton launched NFTs, signaling a growing web3 interest among fashion houses.   Image by Engin Akyurt from Pixabay

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PRESS RELEASE. Formula One is one of the greatest sports in the world and brings about the best automobile teams which compete for the title yearly. From the racing tracks in Spa to the roads of Monte Carlo in Monaco, Formula One has developed into a billion-dollar industry with teams and drivers boasting a cult […]

Data points to capital flight among most major DeFi protocols.

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Bitcoin price is in free fall and the cryptocurrency community is in panic. The high-risk, speculative asset class is living up to its notorious volatility and the selling appears unstoppable. At some point, all assets become oversold and recovery begins. After the most recent selloff, BTCUSD weekly RSI has reached the most oversold level in the entire history of price action, including two bear market bottoms. Bitcoin Selloff Sets Record For Most Oversold Weekly RSI Ever Bitcoin price today tapped below $22,000 per coin and is rapidly approaching prices closer to the 2017 peak. Many altcoins, including Ethereum, have already pushed below the past bull market peak in an unprecedented move for the crypto market. Panic is properly ensuing. The frantic attempt to cash out coins as fast as possible while there is still value left has prompted many top exchanges to halt withdrawals and better assess the situation. The selling pressure has also pushed the weekly Relative Strength Index to the most historically oversold level since Bitcoin started trading. Related Reading | Bitcoin Drops To 18-Months Lows, Has The Market Seen The Worst Of It? The Relative Strength Index is a commonly used momentum oscillator first developed by J. Welles Wilder Jr. in the 1970s. Wilder is also the creator of the Average True Range, Average Directional Index, and the Parabolic SAR. It is used to gauge when assets become overbought or oversold. With BTCUSD historically oversold on weekly timeframes using the RSI, what exactly could this mean, and what might happen next?   BTCUSD weekly RSI is the most oversold ever | Source: BTCUSD on TradingView.com Comparing The Current Crypto Collapse With Past Bear Market Bottoms A visual inspection of the BTCUSD weekly chart instantly puts the RSI below the lower threshold of 30 at around the same level as two past bear market bottoms. Readings below the lower threshold of 30 are considered oversold. In contrast, readings over 70 are considered overbought. More precise readings of the 2015 and 2018 bear market bottoms are 28.41 and 28.72, respectively. The current reading on BTCUSD is under 28, marking the lowest point ever on weekly timeframes. Related Reading | Bitcoin Bear Market Comparison Says It Is Almost Time For Bull Season Although this is a sign that in hindsight could pinpoint a significant bottom in crypto, because the RSI is momentum-based, downside could continue until the momentum has run its course. Price can also repeatedly test the area similar to how Bitcoin regularly displays readings of overbought price action throughout its history. Buyers at these prices would want to look for an RSI swing rejection setup according Wilder’s methodology. Much like during past bear markets, the setup involves waiting for the RSI to reach oversold levels. The rest of the strategy involves watching for the RSI to return back above the threshold, and hold above the threshold during the next correction. After the RSI makes a higher high, a buy signal is generated. Taking a position now does not mean it is safe  | Source: BTCUSD on TradingView.com Even then, bulls aren’t completely safe in their positions. If past bear markets are any indication of what to expect, there is a 50/50 chance of a double-bottom formation with a bullish RSI divergence. In 2015, a second bear market bottom took place setting a slightly lower low after a full 200 days. The RSI made a higher low, signaling that the selling momentum was extremely weak relative to the movement of the price, and the most explosive bull run in history followed. Was this the bottom sign that bulls were waiting for? Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

Bitcoke, a derivatives-focused cryptocurrency exchange, recently announced the official launch of BitCoke Ventures, its affiliated investment arm with a starting amount of $300 million to foster exchange outreach. With notable backers, the fund will focus on investing in startup projects in blockchain infrastructure, wallets, GameFi, NFTs, and other web3 areas critical to the business and…
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I recently put some of my ether into decentralized staking. My thought process was that I wasn't going to get rid of my ether anytime soon, so I might as well have some guaranteed returns while I hold ether. But, both of my decentralized staking choices have been decreasing in value relative to ether. How…
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Anyone know if you can transfer staked ETH2.0 from Coinbase to a Ledger? submitted by /u/realitysballs [link] [comments]