Category: Cryptocurrency News

Polygon introduces a $720 million Community Treasury to fund blockchain projects, targeting developers within the Polygon and Ethereum ecosystems.

I've held some for years and I'm doing a university course on blockchain right now. So far, nothing has convinced me the technology ever have a real world application. Blockchain technology and ether have been around for quite some time now and I've never heard about a single succesful product or innovation which provides utility.…
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The European elections have caused a stir, but several pro-crypto or crypto-supportive parties have gained seats.

The new week has been quite bearish for bitcoin, with the price witnessing major crashes below multiple support levels. After losing its footing above $71,000, it has plunged further below $67,000, signaling the start of a downtrend. Amid the uncertainty, a crypto analyst has presented the important levels to watch as Bitcoin makes it descent, showing a possible direction for the price. Bitcoin Enters Sideways Consolidation In an analysis on the TradingView platform, crypto analyst Bitcoin Signals revealed some important developments for the Bitcoin price. The first observation is the fact that the coin has entered a consolidation zone on the 4-hour chart. This consolidation is currently taking place between $67,000 and $72,000, an area that the price is currently skirting around. Related Reading: Crypto Analyst Predicts XRP Price Will Rally 50,000% To $250, Here’s When As a result of this development, the crypto analyst believes that short-term correction is forming for the cryptocurrency. This is behind the drop in price, and since then, the BTC price has broken down below important support levels such as $69,200, and on Tuesday morning, bears were able to pull the price below $67,000 after breaking below the support zone of $67,200 identified by Bitcoin Signals in the analysis. The crypto analyst further pointed out that the price could continue to move inside this range, which is where the correction is forming. However, there has been a falling wedge pattern that has been forming through the breakdown. According to the analyst, this could see the Bitcoin price break out of the $69,200 resistance once again and make another run for $72,000. Based on the analysis, the crypto analyst believe that the price could continue to correct downward unless it’s able to break resistance at $72,000. Bitcoin Signals based this on the “current market structure and price behavior following a clear breakout on the long-term chart,” suggesting a continuation of the decline. BTC Price On The Charts Selling pressure is currently dominating the Bitcoin price, as evidenced by the direction of the cryptocurrency while seeing an uptick in major metrics. For example, CoinMarketCap data shows that the daily trading volume of BTC is up 89.85% in the last day. However, with the price going down, it suggests that this increase in volume is being caused by sellers rather than buyers. Related Reading: Arbitrum DAO Agrees To Distribute $216 Million In Funding – Here’s What You Should Know In the last 24 hours, the Bitcoin price has seen an almost 4% decline in price, falling to the $66,700 territory. This has eliminated the majority of its gains from last week as the weekly chart shows a 3% decline. It has fallen to its lowest level in June, putting it on par with the May 2024 crash. Featured image created with Dall.E, chart from Tradingview.com

Consensys CEO Joseph Lubin told Cointelegraph that crypto might be the “hardest thing” in software history in terms of potential threats, vulnerabilities and complexity.

According to statistics, 115,773 tokens were issued on the Solana blockchain, and 30-day metrics show that more than half a million tokens, specifically 549,386, were minted. Solana Blockchain Mints Over Half a Million Tokens in 30 Days Solana has recently been a major source of new tokens, surpassing every other blockchain in monthly token issuance. […]

Bitcoin wobbles further into key U.S. macro events as surging open interest concerns longtime market participants.

I am actually surprised that I wasn't able to answer this simple question. A friend is being offered to be paid partly in ETH so he's asking this, mainly due to transaction costs reduction reasons. submitted by /u/tawhuac [link] [comments]