Category: Cryptocurrency News

Trust Wallet Token (TWT) seems untouched by the crypto market decline, holding a nearly 20% seven-day gain while top coins recede. After finding support at $0.79, it rallied above the $0.94 resistance, flipping it to a new support level today.  The Trust Wallet Extension update on Chrome might be driving its price gains in the past week. Due to the update, users can now enjoy the full features of Trust Wallet integrated with their Chrome browser. Such ease of access may have boosted the use of TWT, thereby pushing its demand and price.  Recent Network-Related Developments Can Push TWT’s Price Further The new Trust Wallet Extension update (V 1.9.1) on Chrome Store was announced on October 3. According to the announcement, users can enjoy native EVM swaps, Ledger and hardware support, and crypto purchases.  Related Reading: Bitcoin Price Ready For Blast-Off As Key Metrics Signal A Bull Run: Top Analyst Users can now access 15 different staking options across nine blockchains with the extension. This additional utility is likely driving more investors to the Trust Wallet ecosystem.   Also, on October 5, Trust Wallet launched a Trust Wallet Testimonial Contest to reward its loyal community. According to a blog post, participants will share their testimonials and experiences using Trust Wallet.  Trust Wallet will reward five lucky winners with mystery swag boxes once they complete certain tasks. This contest will likely boost investors’ interest in the ecosystem and lead to price gains for TWT tokens.  TWT Declining On Daily Chart Despite Weekly Gains Despite impressive weekly gains, TWT shows signs of price decline on the daily chart. Its decline could correlate to the retracement in BTC’s price from $28,000 to $27,770 today, October 9, at 5:36 am EST. After its rally from the $0.79 support level, TWT broke above the $0.94 resistance level.  Looking at the daily chart, TWT has formed two consecutive red candles on the daily chart, confirming increased selling pressure. Also, today’s candle drops below the trendline, hinting at a slight retracement ahead for the token.  TWT is retracing in the Donchian Channel (DC) and approaching the Median Band. A drop below this band will confirm that the sellers have reclaimed dominance on its price.  Furthermore, the Relative Strength Index (RSI) indicator displays a value of 64.5 in the buy zone close to 70. A close look at this indicator and its downward motion reveals that it is retracing from the overbought zone. The RSI’s movement confirms the sentiment that the buyers are beginning to take profit and close long positions.  Related Reading: Binance CEO Foresees Monumental Bitcoin Price Shift Following Halving Nevertheless, the price retracement for TWT will likely be brief due to its ecosystem developments. The daily chart analysis shows that TWT will likely decline to $0.94 in the next few days before resuming its rally.  Also, the next rally may likely send TWT above the $1 resistance zone for more impressive gains. However, buyers must avoid bull traps if the $0.94 support level fails to hold.  Featured image from Pixabay and chart from TradingView.com

Really Bullish if you ask me. submitted by /u/WineMakerBg [link] [comments]

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

The firm cited difficulty in achieving “net positive cash flow” in making the decision.

I found this interesting to see.. submitted by /u/Pablito-010 [link] [comments]

The Shiba Inu ecosystem has witnessed a recent surge in BONE Shibaswap investors, as witnessed a recent surge in BONE Shibaswap investors, as some of Shiba Inu’s biggest whales are loading up their bags. According to data from IntoTheBlock, whales of BONE tokens have boosted their holdings in the past month to increase their concentration of the ecosystem to over 43%.  Whale Wallets Loading Up On BONE In Anticipation Of A Rally BONE (Shibaswap) is one of the most important tokens in the Shiba Inu ecosystem and has done well since the launch of Shibarium, as the token went on a bullish trend to reach $1.70 in August. Since then, things have cooled down in the Shiba Inu ecosystem, and the token has lost most of this gain. Related Reading: Dogecoin In A Dire Position As Daily Active Addresses Drop Drastically At the time of writing, BONE is trading at $0.7813, has a market cap of $195 million, and a max supply of 230,003,023 BONE tokens.  On-chain data from intelligence company IntoTheBlock has shown that most of this market cap is concentrated between 12 whale addresses with 108.53 million tokens. However, these whale wallets have been steadily accumulating BONE over the past month. Whale activity rises | Source: IntoTheBlock The total net flow between addresses holding at least 0.1% of the total market cap has increased by +272.92% in a 7-day timeframe. A similar metric following the movement of BONE tokens has shown that the concentration of these tokens in whale addresses (wallets holding more than 1% of the total supply) has increased by +19.74% in the past 30 days.  On the other hand, concentration in investor addresses (wallets holding between 0.1% and 1% of the total supply) has reduced by 1.37% in the past 30 days. BONE holder concentration | Source: IntoTheBlock Recent Price Action Shows Bullish Momentum Might Be Building BONE is currently trending downward after having a bullish run since Shibarium’s introduction. Data has also shown only 34% of holders are making money at the current price. However, the increase in large wallet holdings of BONE coupled with a 33.48% increase in the past 24-hour trading volume is a bullish reversal signal, as it can increase buying pressure from retail investors.  Related Reading: When Are AMMs Coming To XRP Ledger? Ripple CTO Gives Clear Answer Price action reveals BONE is currently at a major support zone of $0.76. A reaction to the support by bulls might see a rally back up. On the other hand, a break below the support might suggest a further fall in the price of the token. This comes after Shiba Inu’s lead developer recently renounced the BONE smart contract. Renouncing the contract means developers no longer have control of the token, making it fully decentralized.  Token price sitting at $0.766 | Source: BONEUSD on Tradingview.com Featured image from Watcher Guru, chart from Tradingview.com

The Bitcoin price has been retracing over today’s trading session after reclaiming some lost ground. The selling pressure could push BTC back to critical support levels unless buyers can stop the current price action. Related Reading: Bitcoin Price Ready For Blast-Off As Key Metrics Signal A Bull Run: Top Analyst As of this writing, Bitcoin trades at $27,400 with a 2% loss in the last 24 hours. Over the previous week, the cryptocurrency recorded a 3% loss as the rest of the crypto top 10 by market cap moves in a similar direction. The One Bitcoin Chart For Success? Crypto analyst and trader Rekt Capital shared a thesis supported on the upcoming Bitcoin Halving. This event was designed to halve the rewards miners granted to include new blockchain transactions. In 2024, these rewards will drop from the current 6.25 BTC per block to 3.125 BTC. The halving is one of the most important events in the Bitcoin ecosystem as it directly impacts the supply and demand dynamics of the BTC market. Rekt Capital believes that the cryptocurrency behaves in a certain way as the Halving approaches. In 2019, after years of trending to the downside and moving sideways, Bitcoin experienced a relief rally. The analyst believes the upside momentum experienced in the past weeks coincides with this relief rally. The chart below shows that the 2019 and the current price action are similar. The chart shows the cryptocurrency crashed from the short-term top formed after the relief rally. If history repeats, the Bitcoin price will drop to the lows of the triangle, targeting a critical resistance of around $30,000. Following The Roadmap In the financial world, traders often look at past price data to predict future results, but history rarely repeats similarly. However, Rekt Capital believes a crash from the current levels or the area closest to $30,000 could be an opportunity and a roadmap. Market participants should be on the look of this crash and of a spike in trading volume as BTC reaches a critical point. Two months before the halving, this spike in volume should hint at an imminent rally. Related Reading: Crypto Analyst Presents Data To Prove That XRP Is Deflationary In the short term, traders should keep an eye on the low pointed out by the analyst; if Bitcoin touches these levels, there is an opportunity to set up a position before BTC reclaims the area above $30,000. As the chart above shows, the cryptocurrency often breaks critical resistance very close to the Halving. Rekt Capital wrote: ~60 days before the Halving, a Pre-Halving rally tends to occur (light blue). In anticipation of the Halving, investors “Buy the Hype” in an effort to “Sell the News.” Once Bitcoin breaks out from the re-accumulation area breakout into the parabolic uptrend (green). It is during this phase Bitcoin experiences accelerated growth on its way to new All Time Highs. Cover image from Unsplash, chart from Tradingview

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