Category: Cryptocurrency News

The native cryptocurrency of Celsius Network – CEL –  has surged over 130 percent in the past 24 hours. The surge occurred as a result of the crypto market’s relief following many days of precipitous declines. The Celsius token shed by more than half its value to reach $0.20 on June 13. Since then, CEL has gained an upward  trajectory. The price of CEL has increased by an astonishing 375 percent over the previous week, representing the most growth among the top 100 cryptocurrencies. As of the time of writing, the token’s average price is $1.51. Suggested Reading | Shiba Inu Now The Largest ETH Whales’ Holding Despite Crypto Market Turmoil Celsius (CEL) 24-Hour Volume Skyrockets To Over 400% Its 24-hour trading volume has ballooned to more than 400%, reaching $66.7 million. Approximately $1.78 million worth of CEL holdings were liquidated as a result of this large transaction, according to statistics from Coinglass. The news that Celsius Network has begun re-paying some of its obligations, returning $10 million in DAI to Compound Finance, and its public commitment to cooperating with regulators to improve liquidity and operations could assist the broader cryptocurrency sector in gaining traction. According to data from Etherscan, Celsius has made many other repayments and closed positions with lenders over the past week. Crypto total market cap at $926 billion on the daily chart | Source: TradingView.com The CEL token has experienced a dramatic ascent and fall over the past two weeks. A week ago, it was trading at roughly $0.3183 in the backdrop of the market slump that the Celsius team’s decision to cease crypto withdrawals is believed to have caused. CEL Maintains Position In The Green However, CoinMarketCap data indicates that Celsius remained in the green last week despite the majority of crypto markets being in the negative until two days ago. In a recent blog post, Celsius notified the community that it will coordinate with regulators to  to find a resolution to withdrawals, transfers and swaps that remained disabled. Experts feel that the doubling of the CEL token price is the result of a short squeeze. Approximately 87 percent of the CEL tokens supply is apparently frozen on its own network, while withdrawals remain suspended. On the FTX platform, the Celsius token is being heavily shorted. In a blog post dated June 20, the network stated: “It has been one week since we paused withdrawals, Swap, and transfers. We want our community to know that our goal continues to be stabilizing our liquidity and operations. This process will take time.” Suggested Reading | Bitcoin Climbs Back Above $20K, A Bit Of A Relief To The Sinking Crypto Market Featured image from Reader’s Digest, chart from TradingView.com

Bitcoin is experiencing price relief in lower timeframes after the crypto market crashed to its 2020 levels. This pushed the cryptocurrency to a yearly low of $17,500, a 75% drop from its all-time high, and Ethereum to $870 an 82% drop from its all-time high. Related Reading | TA: Ethereum Could Rally If The Bulls Clear This Key Resistance This number is standard for a crypto bear market, Bitcoin is known for experiencing similar crashes in the past and could possibly suggest it has completed a new market cycle. At the time of writing, Bitcoin trades at $21,300 with a 4% profit in the past 24 hours. In a market update, trading desk QCP Capital provided potential scenarios for Bitcoin as it recovers from a crash. The firm expects a potential continuation for BTC’s price as it makes it climbs its way to previous levels. Despite the downside trend, QCP Capital claims BTC’s price saw a positive reaction from the lows as it quickly managed to get above $20,000. In that sense, they believe the selling pressure that took BTC to $17,000 was “less leveraged liquidations and more miners reducing inventory”. Liquidation from leveraged positions often leads to price consolidation as the assets take time to recover. In other words, BTC’s price is likely to continue up and less likely to stay in a specific price area, as it did in the past month when it was stuck at $28,600 and $31,500. In addition, QCP Capital believes the options market is hinting at less downside fear. Institutions are “stating to put on bullish structures in size”, the trading firm claimed while adding the following: Macro factors are also lending short-term support. Oil prices have dropped from above 123 to below 110. Other commodities have followed suit as well. This is significant as it reduces inflationary pressure, allowing the Fed to ease up on their tightening stance. A big positive for markets all round. Time To Buy The Bitcoin Dip? As NewsBTC reported, a decline in the price of commodities could suggest the U.S. Federal Reserve (FED) and its monetary policy are making an impact across global markets. Thus, reducing inflation and giving Bitcoin and other risk-on assets some breathing room, at least, for the short term. Related Reading | TA: Bitcoin Consolidates Near Key Juncture, Can The Bulls Make It After a 75% crash, Bitcoin is usually at attractive levels to increase long-term holding. However, investors should operate with caution and apply a dollar-cost average (DCA) strategy. In that sense, QCP Capital added: we remain on guard. Quarter-end fund redemptions are likely to put some pressure on prices along with the possibility of more crypto insolvencies being unearthed.

Since the end of April, the top privacy crypto assets by market capitalization went from a combined value of $10.7 billion to today’s valuation of around $5.09 billion. During that time frame, monero lost 48% in value while zcash shed 56% against the U.S. dollar. Privacy Coin Economy Sheds Billions Since End of April The […]

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Zignaly, a pioneer in social investment and advocate for blockchain composability, is constantly working to further improve its platform. The project regularly adds new and innovative features to empower all investors, regardless of skill level, to have equal access to expert-managed, passive investing tools and capabilities. Last month, the project announced the development of its comprehensive digital asset bridge, aptly labelled “The Bridge“, which makes trading and transferring digital assets from one chain to another as simple as possible. This month, the project is continuing its efforts to level the playing field for retail investors by pushing its platform further into the DeFi space with the launch of ZIG DAO. The project’s newest endeavour will unlock the power of its platform and community, extending the Web3 investment options that are available on its platform. The Web3 investment options integrated into the DAO are digital asset investing without the constraint of centralized exchanges, NFTs, metaverse real estate, DeFi staking and LPs, and just about any other available investment that can be offered. Expanding the Reach of Investors The project’s latest offering, ZIG DAO, allows the company to extend its offering and provide a community-led and decentralized platform that will power the future of Web3 investments. The DAO will be developed around the project’s community, opening up access to more investment opportunities to ensure that everyone is able to have the opportunity to reach their own investment goals. Bartolome R. Bordallo, CEO of Zignaly, elaborated on the value that the DAO will add: “We’ve spent five years providing the expert-managed social investing tools that help every user reach their crypto investment goals, and now it’s time to decentralize and expand. With the launch of ZIG DAO, we have extended our mission by introducing a truly decentralized organization that puts the power in the hands of the community. This enables the community to leverage the power of Zignaly while removing any chance of meddling or control from the exchanges or Zignaly.” The newly-integrated DeFi features will enable new social exchanges of value between users, groups, and organizations. Here are just a few examples of what these features could make possible: Self-Formed Hedge Funds – If you or your friend have more experience than the other in investing, you can create hedge funds together to share profits. Decentralized Marketplaces – Access a curated decentralized marketplace with a range of expert traders, fund managers, and digital asset investors with transparent reputation stats and records to collaborate with in a passive investing model, where both sides are incentivized and share the profits. Digital Asset & Web3 Investment Consulting – Experienced investors can offer their advice to the Zignaly community without marketing their services or having to create their own solution for managing the accounting of what belongs to who. About Zignaly Zignaly has become the world’s largest expert-managed social investing platform, assisting over 430,000 users in their operations. Thanks to the proven, vetted professional managers on the platform, digital asset investors have all the tools they need to achieve great returns without having to take on as much risk. The platform now houses many of the top investors within the space. Expert investors can share their experiences and strategies to help guide the community through the platform, and the platform’s users can invest in these expert traders’ moves, thus allowing them to benefit from the profit-sharing model. The model connects regular digital asset investors with the world’s most successful, proven expert traders and fund managers to create a mutually beneficial profit-sharing model. Speaking on the platform’s primary goals, Bordallo shared: “Our mission at Zignaly has always been about more than just broadening access to alternative assets – it’s about a passive income revolution for everyday investors. Rather than agonizing over every trade or consulting so-called ‘crypto influencers’ for help reading the tea leaves, Zignaly empowers everyone to profit off of the investment moves made by experts with transparent performance histories.” However, Zignaly’s offering goes far beyond this model. Some of the platform’s offerings include staking vaults, IDO participation through ZIGPad, NFT raffles, and the revolutionary new Bridge solution they currently have in development. These offerings are made to open the door for investors who are looking for full-fledged portfolio management services, to ensure that everyone, regardless of background, is able to have access to expert-managed, passive investing tools and capabilities.      

Obviously finding the exact price point is near impossible. But you know when it’s the top in your brain. Tom Brady puts on laser eyes, Matt Damon is doing a crypto commercial. Girls are selling nft’s of their farts. Your co worker who’s never invested in his life asks if you’ve heard of ethereum. The…
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Deloitte wants to enable blockchain and digital asset-based services across many areas involving Bitcoin products like banking, rewards programs and others.

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