Quantum-based random number generator for Web3 games and wallets launched
The QRNG uses a fluctuating quantum system to guarantee unpredictable randomness, which can be used in Web3 gaming and gambling.
The QRNG uses a fluctuating quantum system to guarantee unpredictable randomness, which can be used in Web3 gaming and gambling.
Ethereum broke the $2,820 support to enter a bearish zone against the US Dollar. ETH remains at a risk of more downsides below the $2,740 level. Ethereum started a fresh decline after it failed to clear the $2,880 zone. The price is now trading below $2,820 and the 100 hourly simple moving average. There was a break below a key rising channel with support near $2,820 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,800 and $2,820 resistance levels to start a recovery wave. Ethereum Price Resumes Decline Ethereum attempted an upside break above the $2,900 resistance. However, ETH struggled to clear the $2,880 level and started a fresh decline. There was a break below the $2,850 and $2,820 support levels. The price declined sharply below the 50% Fib retracement level of the upward move from the $2,718 swing low to $2,881 high. There was also a break below a key rising channel with support near $2,820 on the hourly chart of ETH/USD. Ether price is now trading below $2,820 and the 100 hourly simple moving average. It also tested the 76.4% Fib retracement level of the upward move from the $2,718 swing low to $2,881 high. The price is now consolidating near the $2,790 level. On the upside, an initial resistance is seen near the $2,800 level and a connecting bearish trend line on the same chart. The next major resistance is near the $2,820 level and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com A clear move above the $2,820 resistance might start a steady upward move. In the stated case, ether price might rise towards the $2,880 resistance. Any more gains may perhaps open the doors for a move above $2,920. More Losses in ETH? If ethereum fails to gain pace above the $2,820 resistance, it could continue to move down. An initial support on the downside is near the $2,750 zone. The next major support is near the $2,720 level. If there is a downside break below the $2,220 support, the price could gain bearish momentum. In the stated case, there is a risk of a move towards the $2,600 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is below the 50 level. Major Support Level – $2,720 Major Resistance Level – $2,820
PRESS RELEASE. The gaming ecosystem has been at the forefront of the NFT and other blockchain innovations’ adoption. However, despite the impact of the play-to-earn gaming model in driving blockchain adoption, it has been highly criticised due to most gaming projects’ models. It is believed that blockchain games sacrifice the quality of the gaming experience […]
An article by the WSJ suggesting the non-fungible token (NFT) market is “collapsing” doesn’t show the full picture as contrasting analysis reveal a consolidation is instead taking place.
The price of Bitcoin (BTC) has failed to break through the $40,000 barrier, indicating that confidence in the cryptocurrency market remains sluggish. BTC has been declining for more than a month. If it falls below $38K, it could fall all the way to $32K. While the crypto market is now bearish, another crash is improbable, at least until the FOMC meeting concludes. Traders’ enthusiasm in the cryptocurrency market continues to erode as a result of the market’s prolonged fall and geopolitical uncertainty. Veteran trader Peter Brandt anticipates a test of the Bitcoin (BTC) price below $32,000. Suggested Reading | Will Bitcoin Shoot Over $40,000 — Or Drop To $35,000? Brandt stated in a tweet that Bitcoin has completed a bearish course, plunging below the $38K level in the last 24 hours. He anticipates a $32,000 test in the near future. However, his estimate of $28,000 is more concerning for Bitcoin. Additionally, on-chain data does not bode well for bitcoin, as profit transactions have surged. This indicates that profit booking may be occurring at higher levels. Analysts Remain Upbeat On Bitcoin, Despite Jitters Despite persistent concerns about the cryptocurrency market’s significant correlation with equities, analysts remain bullish on crypto. According to market expert and Placeholder VC partner Chris Burniske, Bitcoin and Ethereum have dominated the stock market for years and will continue to do so. Burniske said in a tweet that the cryptocurrency market had “held up quite well” in comparison to high-growth stocks. While BTC and ETH have lost roughly 40% from their all-time highs, several high-growth stocks have fallen between 60% and 80%. BTC total market cap at $731.78 billion on the daily chart | Source: TradingView.com According to on-chain data from analytics platform Santiment, traders’ confidence in BTC reclaiming its $40k level appears to be ebbing. The BTC and ETH Ratio of Profit/Loss Transactions data suggests a staggering 12.5 to 1 ratio of profit transactions to loss transactions. Thus, the likelihood of BTC sliding below $32K appears to be high as trust continues to dwindle and whale purchases stay low. Suggested Reading | Bitcoin Briefly Tops $40,000 As More Countries Adopt Crypto BTC At $48K This May Meanwhile, while no asset’s future performance can be predicted, Alex Kuptsikevich, senior market analyst at FxPro, forecasts Bitcoin will trade between $32,000 and $48,000 by the end of this month. “May is regarded a relative success for BTC in terms of seasonality. Bitcoin has concluded the month up seven times and down four times during the last 11 years,” Kuptsikevich . Kuptsikevich stated that he made this projection based on the cryptocurrency’s average gain of 27% and average loss of 16% in May, for a total gain of roughly 11%. As of Tuesday evening, Bitcoin was trading at approximately $38,528 per coin, CoinGecko data show. Featured image from Pixabay, chart from TradingView.com
Edwin Starr said it best: war is good for nothing. Recently, talks of war have affected crypto in a major way – an invisible string connects the two and we will take a look at how war could impact crypto prices, and the bigger picture impacts at hand. Related Reading | Bitcoin Gives Bullish Clues, Will The FED Meeting Get In The Way? War & Crypto: A Toxic Mix… 2022 has undoubtedly been a rocky ride for crypto. It was a volatile first quarter of the year for major players such as Bitcoin and Ethereum. Around the end of January going into February, the cryptocurrency market cap declined by about $205 billion within a span of 24 hours. The major market indices also crashed, and were treading the correction territory at the period too. This isn’t a first, nor will it be the last until things stable out – what is especially interesting is the price impacts from the war has been brewing between Russia the Ukraine, particularly considering that both the US and Russia have been considered head runners in being the top crypto mining places in the world, following China’s mining departure within the past year. Indeed, much of this turbulence has continued since the first quarter as we approach the midpoint of Q2 2022 – though how much of this can be credited to international disputes is certainly up for debate. BTC: Bitcoins chart can be found on tradingview.com. | BTC:USD via tradingview.com Conflicts that lead to war have economically, historically, been considered as ‘economy boosters,’ and for many are perceived as a good sign for the bears as the focus shifts to the issue at hand, and away from more speculative investments; as many buy or sell at much higher rates then usual, this could lead to many buying at low value and holding until everything plays out and the world chills out. While crypto took a hit, some can say its due to many sanctions – but also war helping effort. Additionally, crypto and NFTs have been utilized to supplement wartime efforts, exacerbating the impact that crypto can have positively on these international fights. Furthermore, people in Ukraine are turning to crypto as an alternative to Ukrainian financial institutions, which are limiting people’s access to bank accounts and foreign currency. In a recent interview, Alex Gladstein, chief strategy officer at the Human Rights Foundation said that “the fact that it can’t be frozen, the fact that it can’t be censored, and the fact that it can be used without ID is very, very important,” and added that “they are why bitcoin is such an important humanitarian tool.” Invisible Strings Connecting It All The conflict is showing us all how fast economics can change, and the dramatic shifts that power of any countries’ dollar in how it can become diluted in short time. From a speculative viewpoint, many countries could turn to crypto or at minimum, state-issued digital currencies. Crypto has the power to help in many ways when the system crashes by providing ways to transfer and send money while also providing a new system via Web3. With fear of inflation coming to arguably an all-time high for many, this might be the time we see crypto take a leap into become a sustainable world economic force. Related Reading TA: Bitcoin Price Technical Indicators Suggest Break Below $37K
The country’s president elect is proving his crypto savvy by declaring there will be no tax on crypto investment gains until legislation can ensure consumer protections.
South Korean law enforcement recently announced the arrest of a serving military captain and an operator of a cryptocurrency exchange on charges of spying for a North Korean hacker. In return for the acts of espionage, the two South Korean individuals were allegedly paid bitcoins worth a total of $637,789. South Korea’s Joint Command and […]
“It is difficult to ascertain the precise reason for this other than the hawkish rhetoric from the US Federal Reserve and the recent price decline,” CoinShares wrote.
