Day: November 22, 2021

Total crypto market cap drops by 6.7%, but futures data finds a silver lining

Looking at the past 7-days of winners and losers might give one the impression that cryptocurrency markets are net positive. Still, total market capitalization actually fell by 6.7% to $2.72 trillion as Bitcoin’s (BTC) price retraced 8.3% to $58,425. Top winners and losers from the sector’s top 80 coins. Source: Nomics The only connection between this week’s top gainers seems to be the Metaverse and gaming sector, which has been on a bull run since Facebook rebranded to Meta on Oct. 28, signaling its new focus on that segment. Further…

Ethereum’s Fees Are Too Damn High

This past weekend, a crypto investor named Zhu Su fired off a series of tweets about the state of the Ethereum blockchain. “Yes I have abandoned Ethereum despite supporting it in the past,” he wrote. “Yes Ethereum has abandoned its users despite supporting them in the past. The idea of sitting around jerking off watching the burn and concocting purity tests, while zero newcomers can afford the chain, is gross.” This article is excerpted from The Node, CryptoX’s daily roundup of the most pivotal stories in blockchain and crypto news.…

NFT Music Platform Royal Closes $55M Funding Round Led by a16z

Royal, the music tokenization platform launched by DJ and entrepreneur Justin “3LAU” Blau, closed a $55 million Series A funding round on Monday, CoinDesk confirmed. A16z led the round, which also included participation by Coinbase Ventures and the performers, The Chainsmokers and Nas. “In addition to their audacious vision, what makes this founding team so unique is 3LAU’s firsthand experience as a musician paired with JD’s exceptional track record as a repeat founder and startup operator,” a16z general partner Katie Haun wrote in a blog post. The funding comes less…

¡Bitcoin y Ethereum ESTALLARÁN en Noviembre por ESTE Motivo!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Telegram 👉 ►Información adicional: – – – – Diario Cripto tiene posiciones de inversión y participa en los programas de referidos. Sin embargo, no tiene ningún otro vínculo comercial ni de ningún otro tipo. La información aquí ofrecida se expone a título meramente informativo y no constituye ninguna recomendación de inversión. Si por iniciativa propia decides invertir, recuerda nunca invertir aquel dinero que no te puedas permitir perder. ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

Meme Coin Market Cap Loses 3.5%, Top 2 Leaders Dogecoin, Shiba Inu Shed Billions – Market Updates Bitcoin News

While crypto-asset markets have shed billions during the last week, the top meme tokens coins by market capitalization have seen deeper losses than most coins. The top two meme digital assets dogecoin and shiba inu have seen double-digit losses during the last seven days. The top meme tokens coins by market capitalization today are worth $60.7 billion losing 3.5% in value over the last 24 hours. Dogecoin and Shiba Inu Lose Double-Digits Last Week During the course of the year, meme-based crypto assets were all the rage and many of…

WEF releases resource suite for CBDCs and stablecoins aimed at regulators and businesses leaders

The World Economic Forum, or WEF, has published a resource suite aimed at informing lawmakers and individuals in the private sector about digital assets including central bank digital currencies and stablecoins. On Nov. 19, the WEF announced its Digital Currency Governance Consortium White Paper Series, a resource suite created by 85 organizations from 40 countries around the world. The publication contains 8 separate white papers exploring topics including the impact of lawmakers regulating stablecoins and central bank digital currencies, or CBDCs, as well as informing them about the risks, benefits,…

BTC, ETH, BNB, SOL, ADA, XRP, DOT, AVAX, DOGE, SHIB

Bitcoin (BTC) continues to be pinned down below $60,000, indicating that higher levels are attracting selling from traders. The S&P 500 made a new all-time high on Nov. 22 due to reports that United States President Joe Biden had renominated Jerome Powell to serve a second term as the Federal Reserve chair. This news also boosted the U.S. dollar currency index (DXY) to its highest level since July 2020. Usually, sharp gains in the DXY are inversely correlated with Bitcoin and the same can be seen in November of this year…

Ethereum-Powered Altcoin Project Erupts Over 70% After Sudden Support From Crypto Exchange Binance

An altcoin project created by several former top executives at Sony is rallying after earning support from Binance, the world’s largest crypto exchange by trading volume. The data democratization platform JasmyCoin is built on Ethereum, and its native token JASMY allows holders to profit from their own aggregate user data. The platform is designed to power a digital marketplace that allows users to sell information generated by Internet of Things (IoT) devices to corporate enterprises. The token JASMY serves as the central payment currency within the ecosystem. Following news of…

Bitcoin Struggles at $60K Resistance; Support Above $53K

Bitcoin (BTC) buyers remained active over the weekend, although upside was limited around the $60,000 resistance level. The cryptocurrency continues to consolidate with pullbacks limited toward $53,000 support. Intraday chart signals are neutral, suggesting the current loss of momentum could continue into the Asian trading session. Buyers will need to defend immediate support around $55,000 and decisively break above the short-term downtrend in order to yield further upside targets. The relative strength index (RSI) on the daily chart is approaching oversold levels, which could support a price recovery similar to…

200k Ethereum Flows Into Exchanges, More Downside Ahead?

According to on-chain data, around 200k ETH entered exchanges yesterday, a sign that Ethereum might face more downside soon. Central Exchanges Observe Inflow Of 200k ETH As pointed out by a CryptoQuant post, more than 200k ETH entered exchange wallets yesterday. At the current rate, this amount is worth about $839 million. The relevant on-chain indicator here is the Ethereum netflow, which shows the net amount of the crypto entering or exiting central exchanges. Its value is calculated by taking the difference between the inflows and the outflows. When the…