Authorities in Kazakhstan have granted Binance a license to operate as a digital asset platform and provide an array of relevant services. While working out of the nation’s financial hub in the capital Nur-Sultan, the crypto exchange will offer registration to customers from other countries as well. Crypto Exchange Binance Receives License to Operate From […]
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Crypto developers seem to be unfazed by the bearish market as they continue to introduce new altcoins or tokens into the space. It is because of this that digital currency price and information data platform CoinGecko is now tracking 13,201 cryptocurrencies. Despite the bloody month of September for most cryptos, the collective market capitalization of these digital assets is currently valued at $986 billion. As expected, Bitcoin and altcoin king Ethereum, continue to assert their dominance as they account for 38% and 16.3%, respectively, of the total crypto market cap. But while these two pack leaders seem to always be on the limelight, there are other lesser known digital tokens that have just joined the stack. Related Reading: SushiSwap: Deciphering How SUSHI Is Posting Unparalleled Price Growth Crypto Quintet Accounts For $50 Billion MC Just this October 7, four days after their initial listing, five new cryptocurrencies accounted for a total market capitalization of $50.75 billion. These “new entrants” didn’t have to wait for a long time to make a loud noise enough to turn heads in the ever-growing crypto sphere. Among the five, RIMAUNANGIS (RTX) led the way with its $27.8 billion market cap. At press time, tracking from CoinMarketCap shows the NFT-centered digital asset was trading at $13.89. GOLCOIN (GLC) and Joystick (JOY) ranked 2nd and 3rd with their fully diluted total value of $17.8 billion and $3.29 billion, respectively. GLC is changing hands at $61 while the JOY gaming token is trading at $0.65. Joining the three are their fellow newly-introduced cryptocurrencies, ELAN and Shihtzu Exchange (STZU) token. ELAN is 4th with its $1.04 billion cap while STZU came at the bottom with its $730.2 million market capitalization. A Quick Reminder For Investors While the continuously growing number of cryptocurrencies signals strong interest and high expectations for profitability in crypto space, investors are once again urged to be cautious in dealing with newly released crypto assets. Pump and dump schemes have victimized a lot of crypto investors over the years and have been the go-to move by scammers to score easy money. It is highly advised that potential investors of different cryptos conduct thorough research about the asset they plan to spend their money for. More often than not, these fraudsters tend to take advantage of the fear of missing out (FOMO) of individuals and even companies that pin their hopes on new tokens and projects to emulate the success of early Bitcoin investors. Related Reading: Shiba Inu: How This Newly Found Support Will Boost SHIB Price This Week Crypto total market cap at $907 billion | Featured image from Pro Bono Australia, Chart: TradingView.com
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As a majority stakeholder, About Capital intends to fuel Huobi’s international brand promotion and business expansion among other initiatives.
To anyone that is surprised by the BNB rollback that happened yesterday… While BNB has always been entirely centralized and permissioned project, some here might be surprised by the BNB rollback today – but in fact, you shouldn’t… BNB seems decentralized to newbies, but its few validators, only 21 in number, are chosen by a…
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Despite seeing a 3.11% drop in value in September, bitcoin still outperformed both the S&P 500 and Nasdaq, the latest Cryptocompare report has shown. Ethereum, on the other hand, was named “the worst performer after the long-awaited Merge proved to be a ‘buy the rumour, sell the news’ event.” Increased tether and U.S. dollar trade […]
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Positive developments in the marketplace have led to a rise in SushiSwap share price. Asset management business Golden Tree has bet around $5.3 million on SushiSwap. The news caused a nearly 15% increase in SushiSwap’s share price the day after it was released. Since the uptick of August 31–September 10, this is one of SushiSwap’s most rapid periods of expansion. The fall that occurred on September 13 as a result of negative macroeconomic pressures was almost entirely erased due to this rally. SushiSwap has a current TVL of $607.51 million. Increased network activity was also noted, according to Santiment’s analysis of the price spike that was also made public. They also saw the rise in both network activity and address creation. However, what does this mean for SUSHI generally? Expanding The Protocol As stated in a thread on the SushiSwap site, Golden Tree has faith in the potential of the entire Sushi protocol, praising its resilience along with that of the community that supports it. The company stated that with the funding, they will be able to contribute in the development and expansion of the protocol’s various components, such as Kuro (a loan service) and Trident. This investment has a tremendous impact on the development aspect of things. This is the significant increase in on-chain development activity. Related Reading: Shiba Inu: How This Newly Found Support Will Boost SHIB Price This Week SushiSwap Served On The Green The graphs depict this optimistic prognosis for SUSHI. Since October 4, the intraday time scale has displayed green candlesticks until now. The upswing surpassed the $1.1413 resistance level, which had previously resisted a breach. Image: TradingView.com The current surge is supported by the middle line of the Bollinger band and the 20, 50, and 100-day simple moving averages. This rally should be viewed with caution, however. When the bulls reach a substantial level of resistance, a rise of this magnitude may be met by a robust reversal. Currently, there’s a lengthy rejection of $1.4282. This adjustment is already visible on shorter time scales. On the 1-hour time frame, a downward trend is forming. Currently, bulls have sufficient momentum to challenge the $1.4282 resistance level. The bulls should defend the $1.1587 support line if the price falls. A long position may be untenable for investors and traders at the moment. Investors and traders can enter the market at the present price and establish a stop loss at $1.4194. Meanwhile, long-term SUSHI holders can rejoice at this relatively recent rally. Related Reading: Hedera: Investors Should Check Out These Data Before Buying HBAR SUSHI market cap at $173 million | Featured image from The Market Periodical, Chart: TradingView.com
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