Day: July 8, 2022

Crypto Traders Lose $280 Million Following Bitcoin’s Break Above $22,000

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As the week draws to a close, there have been some interesting turns in the price of bitcoin. The digital asset which had been struggling to hold the $20,000 had finally broken out of this funk and was able to make a rally to the mid $22,000s. This rally had naturally led to liquidations in the market and as time goes on, these liquidations ramped up with the volatility that has followed this price recovery. More Than 65,000 Traders Rekt As of Friday morning, data from Coinglass shows that more…

Why Bitcoin Must Meet These Conditions If It Wants To Stay Above $20K

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Bitcoin managed to break above the resistance level above $21,000 and seems poised for further gains. The cryptocurrency records its first week in the green after relentless selling pressure pushed it to a multi-year low of around $17,000. Related Reading | Why Weakening Bearish Bitcoin Momentum Could Give Bulls The Upper Hand At the time of writing, Bitcoin (BTC) trades at $21,700 with a 5% and 12% profit in the last 24 hours and 7 days respectively. BTC’s price trends to the downside on the 4-hour chart. Source: BTCUSD Tradingview Data…

Croatian Web3 startup offers lifetime Netflix and Spotify membership via NFTs

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On Friday, Web3 subscription and ticketing solution provider Revuto announced a novel subscription model for Netflix and Spotify, using a nonfungible token (NFT) solution. Revuto said it would offer a lifetime digital subscription for Netflix and Spotify via its Revolution NFT. A total of 10,000 users would be eligible to get their hands on the unique subscription model. Dino Ivankovic, head of business development at Revuto explained how these subscription-based NFTs could become an ecosystem of their own. He told Cointelegraph: “We aim to bring more control to the end-user.…

Bitcoin Mining Infrastructure Provider Lancium to Bolster Battery-Powered Demand Response at 25 MW Texas-Based Facility – Mining Bitcoin News

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According to Lancium Inc., a crypto mining infrastructure firm, the company has signed a deal with the Texas battery-storage provider Broad Reach Power LLC. Broad Reach Power plans to supply battery power to Lancium’s Fort Stockton-based 25-megawatt facility and when the grid is swamped by excessive energy demand, Lancium can continue mining without reducing its computational power. Lancium Partners With Broad Reach Power — Exec Says ‘Grid Operators Are Looking for Solutions to Help Address the Challenge of Intermittency’ On July 07, 2022, Lancium, the energy technology and crypto mining…

Cycle Analysis Review | Ethereum correlation to Bitcoin | Chart Analysis askSlim.com

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US Fed Vice Chairwoman Brainard Doesn’t Like What She’s Seeing in Crypto

“We have seen crypto trading platforms and crypto lending firms not only engage in activities similar to those in traditional finance without comparable regulatory compliance, but also combine activities that are required to be separated in traditional financial markets,” she said at the Bank of England event. “For example, some platforms combine market infrastructure and client facilitation with risk-taking businesses like asset creation, proprietary trading, venture capital and lending.” Source BrainardChairwomanCryptodoesntFedShesVice CryptoX Portal

MATIC Rises for 5th Straight Session, While AAVE Is up Nearly 10% – Market Updates Bitcoin News

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MATIC was one of Friday’s notable movers, as prices of the token rose for a fifth consecutive session. This came as crypto markets were mostly in the green for the majority of the day’s session, with AAVE hitting a two-week high. Polygon (MATIC) MATIC was a notable mover on Friday, as prices of the token rose for a fifth consecutive day of trading. Prices rose to an intraday peak of $0.5933 earlier in today’s session, hitting their highest level since June 26 in the process. This move pushed the token…

US Fed Vice Chair Brainard Doesn’t Like What She’s Seeing in Crypto

“We have seen crypto-trading platforms and crypto-lending firms not only engage in activities similar to those in traditional finance without comparable regulatory compliance, but also combine activities that are required to be separated in traditional financial markets,” she said at the Bank of England event. “For example, some platforms combine market infrastructure and client facilitation with risk-taking businesses like asset creation, proprietary trading, venture capital, and lending.” Source

Bitcoin Bearish Weekly Momentum Begins To Weaken

Bitcoin price has taken a beating over the last several months, resulting in the worst quarterly close since 2011. The bearish momentum has been brutal as crippling contagion spreads across the cryptocurrency market. However, bearish momentum on weekly timeframes has begun to weaken, providing bulls with their first opportunity to capitalize in some time. Bitcoin Bearish Weekly Momentum Begins To Weaken, Can Bulls Capitalize? In the real world, momentum is the measure of velocity and mass. In finance, the term describes the rate of speed at which an asset’s price…