Category: Cryptocurrency News

Is it 9% pre mined eth? Is it based on onchain data or can there be backdoors(hidden eth held by insiders)? Is it possible Vitalik own a bunch of premined eth in a bunch of different alt accounts???? submitted by /u/anxietyokra [link] [comments]

Since its launch in 2015 by programmer Vitalik Buterin, Ethereum has emerged as a revolutionary force in the realm of blockchain technology. Unlike Bitcoin, Ethereum is not just a digital currency, but a decentralized platform that enables developers to create and deploy smart contracts and decentralized applications (DApps) on its blockchain. At the heart of…
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Bitcoin (BTC), the leading cryptocurrency in terms of market capitalization, is displaying persistent indications of an ongoing downtrend. Currently oscillating between the $26,000 level and the $25,800 mark, it is edging closer to a crucial support level at $25,400.  The significance of this threshold cannot be overstated for BTC bulls, as it holds the potential to halt the ongoing decline. Bitcoin Faces Crucial Levels, Analyst Warns Of Potential Dip Bitcoin finds itself at a critical juncture as it tests a crucial support level, according to renowned crypto analyst Ali Martinez. The analyst points to the critical support level of $25,400, which serves as a make-or-break threshold for BTC bulls.  Related Reading: By The Numbers: Deciphering XRP’s Lost Momentum Amid The SEC Lawsuit According to his analysis, a breakdown below this level could trigger further downside momentum, potentially leading to a dip to $22,650 or even $20,590.  While cautioning about potential downside risks, Martinez also highlights a key resistance level that Bitcoin needs to overcome for a bullish trend reversal. The $28,830 mark emerges as a crucial hurdle that BTC must surpass to shift the market sentiment in favor of the bulls.  A successful breakthrough above this resistance level could trigger renewed buying interest and potentially ignite a sustained upward move for Bitcoin. However, as depicted in the chart above, Bitcoin briefly lost its crucial $25,400 support on August 17, dipping below the $25,100 mark. The breach triggered an immediate response from Bitcoin bulls, leading to a swift recovery and reclaiming of the $26,000 level. Nevertheless, what is certain, is that BTC has struggled to consolidate above this line and continue its upward momentum.  However, many market participants view this as a potential consolidation phase for Bitcoin, a pattern that has occurred historically after significant declines. These consolidation phases are often followed by a resumption of the bull run, as evidenced by previous instances. For instance, on March 11, Bitcoin experienced a sharp decline from its first yearly high of $25,000, only to recover and conclude a one-month uptrend on April 14 at $30,900. Similarly, on June 14, after falling from its initial yearly high to the $25,000 mark once again, Bitcoin recovered and surged to achieve another yearly high at $31,800. These historical instances suggest that the current price action for BTC is within the realm of normal. It follows a pattern of temporarily dampening investor hopes and then, under favorable circumstances, rebuilding confidence and propelling investors to new heights of optimism. Related Reading: Optimism (OP) Continues Market Recovery As Network Whales Triple Holdings Overall, the sustainability of Bitcoin’s upcoming support floor is yet to be determined, and it remains to be seen if this current price action will follow the historical pattern of recovery seen in the past.  Should this trend persist, there is a possibility of a short-term recovery ranging between $5,000 to $10,000 for the dominant cryptocurrency in the market. Featured image from iStock, chart from TradingView.com

BNB price (Binance coin) is attempting a recovery from $202 against the US Dollar. The price could start a strong increase if it clears the $215 resistance level. Binance coin price is slowly moving higher from the $202 zone against the US Dollar. The price is now trading below $230 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $208 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair might gain bullish momentum above $215 and $216. Binance Coin Price Eyes Fresh Increase In the past few days, BNB price saw a major decline from well above the $235 level. The price declined below the $225 and $220 levels to enter a bearish zone, similar to Bitcoin and Ethereum. It even spiked below the $212 support. It tested the $202 zone and recently started an upside correction. There was a move above the $210 level. Besides, there was a break above a key bearish trend line with resistance near $208 on the 4-hour chart of the BNB/USD pair. However, BNB price is still trading well below $230 and the 100 simple moving average (4 hours). On the upside, it is facing resistance near the $214 level. It is close to the 23.6% Fib retracement level of the downward move from the $248 swing high to the $203 low. Source: BNBUSD on TradingView.com A clear move above the $214 zone could send the price further higher. The next major resistance is near $225 or the 50% Fib retracement level of the downward move from the $248 swing high to the $203 low. A close above the $225 resistance might increase the chances of a push above the $230 resistance. Another Decline in BNB? If BNB fails to clear the $214 resistance, it could start another decline. Initial support on the downside is near the $208 level. The next major support is near the $202 level. If there is a downside break below the $202 support, the price could drop toward the $200 support. Any more losses could send the price toward the $185 support. Technical Indicators 4-Hours MACD – The MACD for BNB/USD is losing pace in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently near the 50 level. Major Support Levels – $208, $202, and $200. Major Resistance Levels – $214, $225, and $230.

Ethereum price is facing many hurdles below the $1,700 resistance against the US Dollar. ETH could extend its decline below the $1,580 and $1,550 levels. Ethereum is still struggling to recover above the $1,700 and $1,720 levels. The price is trading below $1,680 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $1,665 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another decline if it breaks the $1,580 support in the near term. Ethereum Price Faces Uphill Task Ethereum’s price failed to climb above the $1,700 resistance zone. ETH started a fresh decline below the $1,650 and $1,620 levels, similar to Bitcoin. The price even spiked below the $1,600 support and tested $1,580. A low was formed near $1,580 and the price is now attempting a fresh recovery. There was a move above the $1,600 level. The price is now testing the 50% Fib retracement level of the downward move from the $1,693 swing high to the $1,580 low. Ether is also trading below $1,680 and the 100-hourly Simple Moving Average. Besides, there is a major bearish trend line forming with resistance near $1,665 on the hourly chart of ETH/USD. On the upside, the price might face resistance near the $1,650 level. It is close to the 61.8% Fib retracement level of the downward move from the $1,693 swing high to the $1,580 low. The next resistance is near $1,665 or the 100-hourly Simple Moving Average or the trend line. Source: ETHUSD on TradingView.com The main barrier is still near the $1,700 zone. A close above the $1,700 level could start a decent increase in the near term. The next major resistance is near the $1,750 level. Any more gains might send the price toward the $1,820 resistance. Another Drop in ETH? If Ethereum fails to clear the $1,665 resistance, it could start another decline. Initial support on the downside is near the $1,600 level. The first major support is near the $1,580 zone. If there is a downside break below $1,580, there could be more losses. The next major support is near the $1,550 support level. Any more losses might send the price toward the $1,520 level or even to a new low below $1,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,580 Major Resistance Level – $1,665

Do we have a set date for the Ethereum "Surge" upgrade? The one which should address the Hugh gas fees by using layer 2 solutions or ZK roll ups ? Thanks submitted by /u/Jealous-Impression34 [link] [comments]

Trading at around $0.51, XRP bears have fully reversed all gains posted on July 13, looking at price action in the daily chart. Although bulls are optimistic, it hasn’t been smooth sailing for these traders, and bears have been active, shaving gains and putting buyers on the backpedal. Related Reading: Optimism (OP) Continues Market Recovery As Network Whales Triple Holdings As it is, the path of least resistance, looking at the price action from 2023 peaks to date, is southwards.  XRP Bears Are Unyielding Presently, XRP is down 45% from July 2023 highs. Though prices are higher relative to last week’s lows, the coin remains under immense selling pressure. Looking at price charts, XRP prices are trending inside the August 17 trade range, a bear candlestick, suggesting that sellers have the upper hand unless there is a significant spike above $0.60 with rising volumes. This could ignite demand, lift sentiment, and allow buyers to resume the uptrend. The ruling by Judge Analisa Torres on July 13 went against the United States Securities and Exchange Commission’s (SEC) claims that XRP is a security. In late 2020, the SEC alleged that Ripple, the blockchain company that uses XRP in one of their payment solutions, raised billions by selling the token, violating securities laws. Ripple’s executives, including Brad Garlinghouse, were also sued. Last month’s landmark ruling, in favor of Ripple and its executives, reignited demand, but the momentum appears to be fizzling since bears have completely peeled back gains. What’s Next For XRP? According to coin trackers, XRP has a market cap of $27 billion and is technically the fourth largest cryptocurrency excluding Tether (USDT), when writing on August 22. The coin is more liquid than Cardano, Solana, and Dogecoin at this valuation.  It is only trailing Ethereum, Bitcoin, and BNB. Its gap with BNB is narrowing to around $5 billion. The woes around Binance, the world’s largest crypto exchange, with regulators and banks, especially in the United States, could heap more pressure on BNB. In that way, the coin may drop in valuation, allowing XRP to be the third-largest network in the world. Related Reading: Optimism (OP) Continues Market Recovery As Network Whales Triple Holdings While price action in the daily chart predominantly points to bears, the recent bounce from lower prices after the dump on August 17 may signal strength. Whether buyers will build on this development and resume the uptrend in the direction of the July 13 bar remains uncertain. What’s also clear is that trading volumes are relatively low compared to the wide-ranging bar of mid-July that still shapes the current preview. Feature image from Canva, chart from TradingView

Bitcoin price remained strong above the $25,500 zone. BTC could soon attempt a recovery wave above the $26,500 resistance zone in the near term. Bitcoin is still consolidating above the $25,500 support zone. The price is trading near $26,050 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance near $25,900 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent increase if there is a clear wave above the $26,500 resistance. Bitcoin Price Eyes Recovery Bitcoin price started another decline below the $25,800 zone. BTC spiked below the $25,600 and $25,500 levels. However, downsides were limited below the $25,350 level. A low was formed near $25,359 and the price started a fresh increase. There was a move above the $25,500 and $25,600 levels. The price climbed above the $26,000 level and tested $26,150. Besides, there was a break above a connecting bearish trend line with resistance near $25,900 on the hourly chart of the BTC/USD pair. Bitcoin is now trading near $26,050 and the 100 hourly Simple moving average. It is also above the 23.6% Fib retracement level of the recent increase from the $25,359 swing low to the $26,155 high. Immediate resistance is near the $26,150 level. The next major resistance is near $26,250. A close above the $26,250 resistance might send the price toward the $26,500 resistance zone. Source: BTCUSD on TradingView.com If the bulls push the price above $26,500, there could be a move toward the $27,000 resistance zone. Finally, to start a decent increase, the price must settle above the $27,000 zone. A close above the $27,000 resistance could start a decent increase toward the $27,800 resistance zone. Any more gains might set the pace for a larger increase toward $28,150. Another Decline In BTC? If Bitcoin fails to clear the $26,250 resistance, it could start another decline. Immediate support on the downside is near the $25,850 zone. The next major support is near the $25,550 level or the 76.4% Fib retracement level of the recent increase from the $25,359 swing low to the $26,155 high. A downside break below the $25,550 level might push the price again into a bearish zone. In the stated case, the price could drop toward $25,000. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $25,850, followed by $25,550. Major Resistance Levels – $26,250, $26,500, and $27,000.