Category: Cryptocurrency News

submitted by /u/imToken [link] [comments]

Basis: The credit based economy created by the central banks where the foundational layer of money has no collateral is unsustainable. Let me start from the 2020 to 2022 scenario. Covid pandemic happened. Lockdown was initiated worldwide. Productivity halted. Stocks, commodities, crypto crashed. It seemed like the beginning of the end. Then comes the bailouts,…
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De Beers, one of the leading diamond-producing companies globally, recently announced the deployment of its blockchain-based diamond source platform at scale. The platform will “enable the provision of provenance information from source to Sightholder to store on a secure blockchain.” Immutable Record of a Diamond’s Provenance One of the world’s top diamond miners, De Beers, […]

Bitcoin attempted a recovery wave above $32,000 against the US Dollar. BTC is struggling and remains at a risk of more losses below $30,000. Bitcoin started a short-term recovery wave after it tested the $30,000 zone. The price is now trading below $31,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $31,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might resume decline if it stays below the $32,400 resistance zone. Bitcoin Price Faces Hurdles Bitcoin price extended downsides below the $32,000 level. BTC even tested the $30,000 support zone and traded as low as $29,755. Recently, there was an upside correction above the $31,000 level. The price was able to climb above the 23.6% Fib retracement level of the key drop from the $36,059 swing high to $29,755 low. The bulls were able to push the price above the $32,000 resistance. However, they faced a strong resistance near the $32,650 zone. Bitcoin remained below the 50% Fib retracement level of the key drop from the $36,059 swing high to $29,755 low. The price is now trading below $31,500 and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $31,400 on the hourly chart of the BTC/USD pair. On the upside, bitcoin price is facing resistance near the $31,250 level. Source: BTCUSD on TradingView.com The next key resistance could be near the $31,400 level. The key breakout zone could be near the $32,650 zone. A clear move above the $32,400 and $32,650 levels might start a steady increase in the near term. More Losses in BTC? If bitcoin fails to clear the $32,400 resistance zone, it could continue to move down. An immediate support on the downside is near the $30,500 level. The next major support is seen near the $30,000 level. A downside break and close below the $30,000 support might start another decline. The next major support could be $29,500, below which the bears might aim a move towards the $28,800 support zone. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $30,500, followed by $30,000. Major Resistance Levels – $31,250, $32,400 and $32,650.

Perpetual contract trading platform dYdX has launched an app for users outside of the U.S. that will offer the same functionality as its website.

Key facts to consider – Prior to the crash 40% of UST was locked in Anchor with no unlock period(?) – however other staking protocols have an unlock period of multiple days to get your UST back. The price of Terra is at $15.45 with a marketcap of 5.7B The depeged marketcap of UST is…
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submitted by /u/BlazingHotFireFox [link] [comments]

Delivering the Queen’s Speech, Prince Charles outlines the British government’s plans to support the safe adoption of cryptocurrencies and create “powers to more quickly and easily seize and recover crypto assets.” UK Government Plans to Support Crypto Adoption The U.K. government outlined its legislative agenda for the next parliamentary year in the Queen’s Speech delivered […]

The new ecosystem fund will be used to support the 7,500 developers on Flow to build new gaming, infrastructure, DeFi, and content creator products on the NFT blockchain.

This is in reference to the stock-to-flow model, which I believe is a solid indication on BTC's path albeit taking a different route right now. The stock-to-flow model suggests that should be roaming in the region of USD 100k during this period, but we have not even seen it going passed USD 70k yet. https://preview.redd.it/wny63lj62ry81.png?width=1789&format=png&auto=webp&s=e8222f0ca93d62aa793f7d5a2164437c0e2ff619…
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