Bitcoin (BTC) buyers took some profits below the $33K resistance level. Long-term momentum remains negative, capping upside moves in price. For now, lower support is at $25K-$27K. Original
Bitcoin Slips as Relief Bounce Loses Steam, Support at $27K
Day: June 1, 2022
Accuweather Collaborates With API3 in Order to Provide Blockchain-Powered Weather Data – Blockchain Bitcoin News
On June 1, the American media company that provides commercial weather forecasts, Accuweather, announced it is tethering weather data to blockchain technology by hosting an API3 Airnode. The company revealed that it is collaborating with blockchain oracle provider API3 and Web API operators will be able to access Accuweather’s onchain weather data. Accuweather Exec Believes Blockchain Weather Data Can Make ‘Lasting Impacts Through a Range of Industries’ According to the company Accuweather, the firm is hosting its own API3 oracle node in order to provide a “seamless Web3 wrapper that…
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Prada launches new fashion NFT, P2E games witness growth in India
Following its initial foray into the nonfungible token (NFT) space with the Adidas for Prada re-source project in partnership with digital artist Zach Lieberman and SuperRare, iconic fashion brand Prada has now announced its first independent NFT collection accompanying the Prada Timecapsule. An online event hosted on the first Thursday of every month, Prada Timecapsule has, since December 2019, opened up exclusive access to clothing items on its website for 24 hours. Drop #30 in this series will be coupled with an NFT. According to Prada, the asset’s design will…
Germany Issues Crypto Securities Guidance as Deadline Looms
BaFin’s guidance confirmed candidates will be asked for details of their IT systems and processes, and senior staff vetted for business experience – albeit acknowledging that it’s a new sector where experience is thin – and pay a fee of 6,336 euros ($6,745). Source
LUNA2 Records Losses as Market Rebounds, Investors Lost Faith?
A couple of days after its launch, the new LUNA or LUNA2 token from the Terra network continues to experience high volatility levels. The cryptocurrency was deployed as a result of the collapse of the old LUNA or LUNA Classic which lost almost 99% of its value in a little over a week. Related Reading | Ethereum’s Optimism Airdropped Governance Token, Here Is How It Went This resulted in billions of dollars in losses for retail investors as the Anchor Protocol, the platform which promised stablecoin UST stakers a 20% annual…
Binance’s CZ says he is ‘skeptical’ about the Terra relaunch
Binance CEO Changpeng Zhao, also known as CZ, expressed skepticism around the revival plan for the Terra ecosystem and the launch of the new LUNA token. “I try not to predict what the community will do. […] Many are skeptical. I’m one of those guys,” said CZ in an exclusive interview with Cointelegraph. Following the collapse of TerraUSD (USD), the Terra ecosystem’s stablecoin, CZ criticized its team for not handling the crisis properly and pointed at the project’s flaws that led to the crash. Still, Binance is now actively participating…
Undercollateralized USDN Stablecoin Needs Tweaking, Waves Founder Says
Ivanov was asked how Waves was different from Terra, whose UST algorithmic stablecoin and luna token crashed in May, wiping out $60 billion in market value. Neutrino’s protocol has “similar mechanics” to Terra, “but (is) different,” he said, citing restrictions on how many redemptions users can get in one day. Source
Bitcoin price broke to the upside, but where are all the leveraged long traders?
This week’s Bitcoin (BTC) chart leaves little doubt that the symmetrical triangle pattern is breaking to the upside after constricting the price for nearly 20 days. However, derivatives metrics tell a completely different story because professional traders are unwilling to add leveraged positions and are overcharging for downside protection. BTC-USD 12-hour price at Kraken. Source: TradingView Will BTC reverse course even as macroeconomic conditions crumble? Whether BTC turns the $30,000 to $31,000 level into support depends to some degree on how global markets perform. The last time U.S. stock markets…
Bitcoin Miners Are Selling Off Their BTC Holdings to Cope With Market Headwinds
Miner flows to exchanges have reached their highest point since January, Compass Mining – a bitcoin mining services company – wrote in a research note today using data from CoinMetrics. “Miners may begin to sell hodl’d Bitcoin into the open market,” wrote Compass. “At the very least they are feeling the pain after the last major dip in price. Couple this with a downwards difficulty adjustment – indicating miners powering off – and it seems miners may be hitting a wall in profitability.” Source