Category: Cryptocurrency News

Hey guys! Ran into an issue. In my .env file I get: Error HH100: Network goerli doesn’t exist Referencing my code: INFURA_GOERLI_ENDPOINT=(link is correct and up to date via infura.io) I’m also getting HardhatError: HH700 artifact for contract not found (this is when I run npx hardhat test) Any guesses? submitted by /u/EnigmaticEggtastic…
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Hedera (HBAR), currently ranked as the 31st cryptocurrency asset in terms of market capitalization, has recently witnessed a remarkable surge in its price, captivating the attention of investors and enthusiasts alike.  A surge in an asset’s social engagement often serves as a precursor to a rally in its price. In the case of HBAR, this correlation seems to be playing out vividly. As the cryptocurrency landscape continues to evolve, HBAR’s notable growth over the past few weeks has raised eyebrows and prompted discussions about its potential. Related Reading: XRP Price: Breaking This Key Resistance Could Propel Crypto To $21 By 2025 – Analyst Surge In Social Activity Sparks Price Rally Speculation In the ever-dynamic world of cryptocurrencies, there exists a symbiotic relationship between social activity and price movements.  With its current price listed at $0.058907 according to CoinGecko, the cryptocurrency experienced a slight 5.5% decline over a 24-hour period. However, what has truly caught the attention of market observers is its impressive seven-day surge of 11.8%. These figures, though significant, only hint at the larger story unfolding around HBAR. Keep a close eye on @hedera‘s social engagement. Here’s what we are noticing…#Hedera‘s social activity has been soaring with 30.68M engagements (+243.9%) over the past week. The social engagement metric measures community participation in social posts, measured by likes,… pic.twitter.com/FJFNFOkgz8 — LunarCrush (@LunarCrush) August 8, 2023 Lunar Crush, a platform that monitors social media activity surrounding cryptocurrencies, reported a staggering increase of over 200% in Hedera’s social engagement metric within the last week. This surge in online discussions, mentions, and interactions reflects a heightened level of interest and curiosity surrounding HBAR.  As the cryptocurrency community buzzes with conversations about HBAR’s potential, it becomes evident that this surge in social engagement has played a pivotal role in driving its recent price rally. As of today, the market cap of cryptocurrencies reached $1.13 trillion. Chart: TradingView.com Hedera: Technical Indicators Paint A Complex Picture Peering into the technical aspects of HBAR’s recent price surge, key momentum indicators reveal interesting insights. According to a recent price analysis, these indicators have maintained a position above their neutral center lines since the start of August, underscoring the ongoing bullish sentiment.  Source: Banknote World However, caution flags are raised by the Relative Strength Index (RSI), which presently hovers above the 70-mark. This could suggest that HBAR is venturing into overbought territory, possibly indicating a need for a corrective pullback. Similarly, the Money Flow Index (MFI) stands at 72.63, drawing closer to the overbought region. These indicators collectively invite a nuanced interpretation of HBAR’s current price trajectory. Related Reading: Cardano False Breakdown: Could It Set The Stage For A 26% Climb? In a market that thrives on speculation and anticipation, HBAR’s recent price surge and the corresponding surge in social activity have ignited intriguing conversations. As HBAR continues to make its presence felt among cryptocurrency enthusiasts and investors, its journey forward remains one to watch closely.  (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from NPR

Prosecutors and defense lawyers agreed to a bail modification having the former Celsius CEO under electronic monitoring and largely be restricted from moving funds over $10,000.

In an opinion piece in The Wall Street Journal, Brian Brooks and Charles Calomiris claim that U.S. stablecoin legislation is crucial to redollarizing the world.

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On-chain data shows the Aptos (APT) trading volume has continued to be extremely high after the rally, a possible sign that more gains may be coming. Aptos Social Dominance Calms Down, But Trading Volume Remains Elevated Yesterday, news came out that tech giant Microsoft has partnered up with Aptos Labs to work on blockchain-based AI tools. This big announcement naturally caused a reaction in the market, as the company’s token, APT, observed a very sharp 17% jump. The token had neared the $8 level at the peak of this surge, but since then, it has observed some decline and has retreated towards the $7.3 mark. The below chart displays how the asset’s price has changed recently. Looks like the price of the asset has observed a sharp jump during the past day | Source: APTUSD on TradingView Despite the pullback, though, Aptos is still carrying gains of around 9%. These profits make it by far the best performer among at least the top 100 assets by market cap. Related Reading: Bitcoin Coinbase Premium Surges, Recovery Being Driven By US Investors? As for why the retrace may have occurred, data from the on-chain analytics firm Santiment could provide some hints. As displayed in the below graph, the social dominance of APT had observed a very large spike as the rally had taken place. The data for the different metrics related to APT | Source: Santiment on X The “social dominance” basically tells us how much discussion related to the top 100 assets on social media is coming from talks related to Aptos alone. When the news had broken out, social media discussion around the coin had naturally blown up, as a large number of users had become interested in the asset. While such excitement can help fuel a rally, too much of it can actually have the opposite effect. It would appear that the FOMO spiking in the market is what contributed to the rally topping out and the price decline. Since then, though, the social dominance has calmed down a bit, implying that hype has returned to healthier levels. At the same time, the APT trading volume (that is, the measure of the total number of tokens being moved around on the blockchain) has only gone up and has hit its highest point since March. This implies that investors have only continued to trade more of the cryptocurrency even after the rally’s pullback. Generally, a high amount of volume is needed to sustain any significant move in the price, as such moves require a large amount of fuel. Since the trading volume has only been growing, it can be one of the first hints that the Aptos rally isn’t over just yet. Related Reading: Bitcoin Retraces Back From $30,000 As Profit Taking Spikes In the chart, Santiment has also attached the data for another indicator, the development activity. This metric keeps track of the work that the developers have been doing on the project’s public GitHub repositories. From the graph, it’s visible that this metric had been constantly rising in the buildup to the announcement as the developers may have been preparing for the partnership. Featured image from iStock.com, charts from TradingView.com, Santiment.net

A combination of trends already underway and deliberate industry action could lead to crypto’s watershed moment in terms of public adoption.