Category: Cryptocurrency News

Popular privacy coin Monero (XMR) has been on a rally since the start of 2022. The cryptocurrency appears to be moving on its own as the crypto market trends sideways. Related Reading | Monero And Zcash Take Off With 15% Gains, Here’s What May Have Spurred The Rally Recently, XMR bulls are displaying more strength. At the time of writing, XMR trades at $285 with a 6% profit in 24 hours, a 34% and 50% profit in the last two weeks and 30-days, respectively. As announced by one of Monero’s maintainers via a post, the network will undergo an upgrade on July 16th, 2022, at the height of block 2.6 million. The “Fluorine Fermi” update will introduce new features to the network. As the developer stated, Monero will increase its ring size from 11 to 16. The ring size is a term to refer to the total number of signers in an XMR transaction. As part of this network’s unique model, the update will provide users with more base privacy. In addition, the network will implement an upgraded version of its Bulletproofs algorithm to decrease its transaction size by around 7%. This change is supposed to improve the network’s scalability by making “every transaction lighter and faster”. On the latter, the network will reduce the wallet’s sync time by around 30 to 40%, the post said, and will implement a change to Monero’s fee model. Thus, users can expect to see an uptick in the network’s “security and resilience”. As the update will be deployed via a Hard Fork, users and node operators will need to update their software. The maintainer made the following request to the users: A new release will be announced before the network upgrade (around the 16th of June). You will only have to be using the updated software by the time the network upgrade occurs (16th July). To the end user, it will be like a simple software update. #Monero will undergo a network upgrade on July 16th, 2022:https://t.co/9NKlGtqXAn All users will need to do is keep their favorite wallet up to date, update their nodes once v0.18 is released (~June 16th), and enjoy even better digital cash afterwards 😎 — Monero (XMR) (@monero) April 20, 2022 Could Monero Be Spelling Danger For The Crypto Market? It’s possible that Monero’s recent price action is due to its upcoming network update. As mentioned, they are substantial and will provide the users with interesting new features. Data from Material Indicators (MI) records an increase in buying pressure from retail investors during April. At the same time, investors with ask orders larger than $10,000 have been selling into the rally. Unless larger investors classes step in, XMR could be at risk of a short-term decrease. Related Reading | Monero (XMR) Price Slides As Canada Includes Crypto In Emergencies Act Additional data provided by Jarvis Labs indicates a potential danger for the entire crypto market. According to their “Dino Index” (comprise of Ethereum Classic, Zcash, Litecoin, Bitcoin Cash, and others), a metric to track the performance of these assets to show their inverse correlation with the crypto market, there could be some obstacles ahead. Jarvis Labs said via their Telegram Channel: Quite evident that majority of the time when these dino coins rise and btc rises, better to look at profit taking or hedging the risk and look for market tops.

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Terra (LUNA) has made a considerable comeback given the slump that the coin underwent a little over a week ago. The broader market has also regained strength which has proved to be beneficial for the industry’s altcoins. Bitcoin and Ethereum have steadied above their immediate price floors. The prominent coins were eyeing the next price ceilings at the time of writing. Over the last 24 hours, the coin rose over 4% and in a week’s time, Terra brought home gains worth 13%. Among the top ten coins, Terra (LUNA) remains one of the highest gainers. The global cryptocurrency market cap today was at $2.04 trillion and there has been a gain of 1.3% over the past day. Terra (LUNA) Price Analysis: Four-Hour Chart                 Terra’s bulls have regained strength and the prices were bordering $100. At the time of writing, Terra was valued at $99.27. The immediate resistance mark for the coin once it crosses the $100 mark would stand at $106. The support level for the coin stood at $91.82 and failed to sustain over which the coin fill fall to $83.81. The price of the coin was seen moving upwards in an ascending channel. A price pullback could be on the charts given how the coin has secured a double-digit gain over the past week. The volume of Terra was seen closing in the green which signified that the coin witnessed bullishness. A small bar suggests that the coin hasn’t been experiencing high selling volume and also that people have continued to HODL. Suggested Reading | Conquering Terrain: Terra’s Stablecoin UST Is Now Crypto’s Third Biggest Technical Analysis Terra was priced at $99.27 at the time of writing. After recovering considerably over a week, the buyers seem to have regained confidence in the asset. On the Relative Strength Index, the coin displayed a sharp recovery. The indicator was seen above the half-line, near the 80-mark. This reading meant that buyers were in excess in the market. The asset was overbought at the time of writing. It is a possibility that if the coin remains in the overbought zone for a little longer, then there could be a chance of price correction. Related Reading | Inside Terra’s $2.38 Billion Reserves, What Made The Lineup? Terra has picked up bullish momentum on the four-hour chart | Source: LUNA/USD on TradingView.com Terra was bordering its immediate price resistance, however, the coin was rejected from $100 for a week or so. The price momentum of the coin was quite bullish as seen on the MACD. The indicator underwent a bullish crossover and displayed green bars at the time of writing. The Directional Movement Index indicates price momentum and it displays positive price momentum on the four-hour chart. The Average Direction Index (ADX) also was seen above the 25-mark which is a sign of market strength and upside movement. In accordance with the other indicators, Terra might aim for the $106 price mark over the immediate trading sessions which would mean a 7% appreciation for the coin. Featured image from UnSplash, Charts from TradingView.com

A non-fungible token (NFT) collection called Moonbirds has been a topical conversation within the NFT community as the compilation’s sales have been enormous. The Moonbirds NFT project started selling five days ago on April 16, and since then statistics show the collection has seen $364.83 million in sales. Moonbirds NFT Collection Takes the Top Spot […]

The U.S. affiliate of the world’s largest crypto exchange says it’s time for its own voice, and major lobbyist Blockchain Association wished them well.

Coorest and the PLCnetwork of the Southern Hemisphere believe that blockchain and NFT technology are a solution for protecting endangered wildlife and funding costly conservation areas.

The first public, carbon-negative blockchain showcases its commitment to sustainability and advocates for building a greener future on Algorand. NEW YORK, April 21, 2022 /PRNewswire/ — Algorand, the blockchain transforming business models of all kinds, today announced it will showcase its commitment to sustainability and climate-first technology in Times Square, NYC. The takeover will begin…
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