Category: Cryptocurrency News

After the initial subdued reaction to the spot Ether ETF approval, Ether may move up, pulling LINK, UNI, and ARB higher, while Bitcoin may consolidate.

As the Consensys 2024 conference commences this week in Austin, Texas, the LINK community is abuzz with anticipation over a potential pivotal announcement from Chainlink in collaboration with SWIFT. Speculations are rife that this announcement, set for May 30 during a session on tokenization, could significantly influence LINK’s market performance. Chainlink And Swift Partnership Going To The Next Level? The session titled “How Swift and Chainlink Are Working Together to Unlock Tokenized Assets At Scale” will take place on the Mainstage at the Austin Convention Center. It features Jonathan Ehrenfeld, Head of Securities and Digital Assets Strategy at SWIFT, and Sergey Nazarov, Co-Founder of Chainlink. The session aims to explore how the two entities are collaborating to connect traditional financial infrastructure with the burgeoning multi-chain economy. This partnership is crucial for enabling a global system of on-chain finance for tokenized assets, which could streamline and enhance the security of cross-chain transactions. Related Reading: Chainlink On Fire: Price Nears $18, Profit Ratio Blazes To 2022 Levels This development follows a series of successful experiments conducted in June 2023, where SWIFT, alongside major financial institutions like BNP Paribas and BNY Mellon, demonstrated SWIFT’s potential as a unified access point for various blockchain networks. These tests included token transfers within and across different blockchain platforms, showcasing a stride toward integrating digital assets globally. Chainlink’s role as a leading provider of on-chain data and cross-chain interoperability solutions makes it a strategic partner for SWIFT, which has historically been the backbone for global financial communications across over 11,000 banks. The potential announcement is speculated to revolve around further advancements in this collaborative effort, which may include launching new protocols or a mainnet launch. Furthermore, Sergey Nazarov’s participation in another significant discussion at the conference, scheduled for May 29, titled “Building the Tokenized Asset Economy | Chainlink and Securitize,” adds to the gravity of the week’s events. Here, Nazarov, alongside Carlos Domingo, Co-Founder and CEO of Securitize, will delve into the multi-trillion-dollar tokenization opportunity, discussing strategies for blockchain projects and capital markets institutions to optimize their approaches to tokenization. Related Reading: Crypto Analyst Sounds Warning Alarm For Potential 50-60% Crash In Chainlink Price, Here’s Why The recent $47 million strategic funding round led by BlackRock for Securitize, which coincided with the launch of BlackRock’s first tokenized fund (BUIDL) on Ethereum, underscores the accelerating interest and investment in blockchain and tokenization technologies. With Securitize, Chainlink could ink another major player in the field of tokenization. LINK Price Is Ready To Skyrocket The outcomes of these sessions and the anticipated announcement could significantly impact the LINK price. Notably, the LINK price is in a good position in the daily chart. On May 16, LINK’s price successfully broke above a descending trend line that had previously capped its price action for approximately two months. This trend line, originating from early mid-March, had been a barrier for any bullish momentum, with the price consistently rejecting this dynamic resistance until the mentioned breakout. Following this pivotal breakout, LINK’s price trajectory shifted as it began a rally towards higher price levels. Notably, the price rallied to the 0.5 Fibonacci retracement level, which is calculated from the local high in early March to the significant low in mid-April. This level, sitting at approximately $17.41, has become a crucial focal point for both traders and analysts. Since reaching the 0.5 Fibonacci level, LINK’s price has entered a phase of consolidation, fluctuating within a narrow range defined by the 0.5 and 0.382 Fibonacci levels—the latter at around $16.13. This price behavior indicates a tug-of-war between buyers and sellers, trying to establish a more defined market direction. A convincing break above this level could signify a continuation of the bullish momentum, potentially leading to further gains. Technical traders might be closely watching this level, as a breakout could validate the bullish sentiment further and could see the price aiming for the next Fibonacci levels at $18.70 (0.618), $20.53 (0.786) and 22.86 (1.0). Featured image created with DALL·E, chart from TradingView.com

Racer, a co-founder of Friend.tech – a socialfi network – has posted a bounty of $200K for anyone bringing an implementation allowing the migration of its platform off Base, the Coinbase incubated rollup Layer 2. Racer declared: “System design bounty: If you can figure out a way to migrate friendtech off of Base without causing […]

submitted by /u/0xJonnyDee [link] [comments]

Decentralized AI networks, enhancement of smart contracts and emerging DeFi protocols are some of the upcoming trends in blockchain, according to EUBOF.

Chiliz (CHZ), the cryptocurrency powering fan engagement tokens for sports and entertainment, is stirring excitement with a potential breakout predicted by popular analyst Javon Marks. Marks forecasts a staggering 351% surge for CHZ, sending its price soaring to a projected $0.63. Related Reading: Avalanche Weathers The Storm – Can AVAX Hit $40 Again? This bullish prediction comes amidst a recent upswing for CHZ, marked by a decisive break above a key resistance level. Marks interprets this technical indicator as a sign of a sustained uptrend, potentially setting the stage for a significant price run. $CHZ (Chiliz) price has returned here with major strength and continues to hold free and broken out of a key resisting trend which can imply a much larger run to be developing! With this breakout holding, a near +351% run from here to $0.63755 could be a matter of time and still… https://t.co/w25MaWhxm5 pic.twitter.com/zSE2kPnfd0 — JAVON⚡️MARKS (@JavonTM1) May 25, 2024 Fan Power On The Blockchain: A Unique Selling Proposition CHZ’s unique value proposition lies in its innovative approach to fan engagement. By leveraging blockchain technology, CHZ empowers fans to forge deeper connections with their favorite teams and personalities through fan tokens. These tokens grant fans exclusive voting rights on certain club decisions, access to unique content and merchandise, and a chance to participate in the ever-evolving world of digital collectibles. This approach has resonated with sports fans globally, propelling CHZ to the forefront of the crypto market. The potential for increased fan engagement through CHZ tokens has attracted a loyal following, further bolstering the token’s potential. Marks’ optimistic outlook has ignited a wave of investor confidence in CHZ. The prospect of a 351% surge has captivated both seasoned crypto veterans and newcomers seeking a lucrative entry point into the market. Maintaining The Momentum However, Marks emphasizes the importance of maintaining the current breakout level for CHZ. He believes that staying above this resistance level is paramount to sustaining the bullish trend and maximizing potential gains. Related Reading: Shiba Inu On The Verge Of 600% Rally? Analyst Weighs In Chiliz: 35% Yearly Climb Signals Strong Growth Outlook The asset’s price has experienced a 35% increase over the past year, indicating strong performance and upward momentum. This positive trend is further supported by its current trading position above the 200-day simple moving average, a key technical indicator suggesting sustained bullish sentiment and potential for continued growth. Additionally, the asset’s high liquidity, as evidenced by its substantial market capitalization, ensures that it can be traded efficiently without significant price volatility. This combination of recent price appreciation, favorable technical indicators, and robust liquidity positions the asset as a potentially attractive investment opportunity. Featured image from National Agricultural Advisory Services, chart from TradingView

Here’s the step-by-step process of purchasing ETH on eToro and exploring the platform’s user-friendly interface and seamless transaction procedures.

Growing altcoin market cap and a decline in Bitcoin dominance have spurred renewed hopes for altseason.

TRON founder Justin Sun has made a public call to back a U.S. presidential candidate favorable to cryptocurrencies. Sun emphasizes the importance of recognizing the cryptocurrency community—including companies and protocols—as key stakeholders in the political arena. He urges that their voices be heard and their interests safeguarded, highlighting the growing influence of digital currencies in […]

I had some Golem in a Jaxx wallet on my old PC which I no longer have access to. Before losing access I did back up my private key (or at least, I think/hope I did). My Golem is still in GNT form and I never migrated it to GLM. I have what I believe…
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