Day: July 29, 2022

Bitcoin price rejects at $24K as ‘classic short setup’ spoils bulls’ fun

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Bitcoin (BTC) saw fresh volatility after July’s final Wall Street open as highs north of $24,000 remained solid resistance. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Resistance strikes BTC at $24,000 Data from Cointelegraph Markets Pro and TradingView reflected bulls’ continuing struggle as BTC/USD lurched around the $24,000 mark on July 29. The pair had attempted to match the week’s local top of $24,450, this ultimately failing to materialize as a resurgent U.S. dollar pressured crypto despite the gains of U.S. stocks . The U.S. dollar index (DXY) continued higher during…

Impressive Rally Puts Bitcoin Above $24,000, But Is $28,000 Still Possible?

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Bitcoin has rallied once more above $24,000. This impressive rally follows an intense week where the FOMC’s announcement has basically shown that the United States is now in a recession. Investors had flocked to the bitcoin off the back of the news, causing the digital asset to surge immensely during this time. As the digital asset has beat one important technical level, it remains to see if it can beat another. Accumulation Triggers Rally There are a lot of factors that usually trigger a rally, such as the one that…

Pro-Russian groups raised only 4% of crypto donations sent to Ukraine

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According to data from crypto analytics firm Chainalysis, users have sent more than $2 million in crypto to 54 pro-Russian groups since Feb. 24, a fraction of that received by many wallets controlled by the Ukrainian government. In a Friday blog post, Chainalysis said it had tracked funds sent to social media accounts controlled by pro-Russian groups in Bitcoin (BTC), Ether (ETH), Litecoin (LTC), USDT-TRX, and Dogecoin (DOGE) starting with the country’s invasion of Ukraine in February. According to Chainalysis’ data, users sent roughly $2.2 million to the pro-Russian groups,…

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KuCoin crypto exchange debuts USDT-dominated NFT ETF

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Seychelles-headquartered cryptocurrency exchange KuCoin has launched an exchange-traded fund (ETF) tied to major nonfungible token (NFT) assets like Bored Ape Yacht Club (BAYC). KuCoin’s NFT ETF Trading Zone went live on Friday, the firm announced. The new investment product is launched in collaboration with NFT infrastructure provider Fracton Protocol. The KuCoin NFT ETF is a Tether (USDT)-dominated product that marks particular underlying NFT assets like Bored Ape Yacht Club. BYAC is one of five NFT ETFs that KuCoin is launching. Trading under the symbol hiBAYC, the asset is an ERC-20…

GRT, LINK Rally to Multi-Week Highs on Friday – Market Updates Bitcoin News

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The graph was a notable mover in Friday’s session, as the token rallied to a multi-week high. Prices rose by as much as 16% in today’s session, with chainlink also seeing its price climb by a double-digit percentage. Overall, the global crypto market cap is up 1.92% as of writing. The Graph (GRT) The graph (GRT) was one of the big movers in crypto markets on Friday, as prices of the token surged by over 16%. Following a low of $0.1082 during Thursday’s session, GRT/USD rallied to an intraday high…

XRP Sustains Solid Momentum To $0.37 In All-Green 7-Day Climb

Ripple (XRP) has walked the last mile after it waded lows at $0.326 and surged by 16% in the last 48 hours. While everything is looking green and bullish, XRP is still faced with the $0.381 resistance, and if the coin fails to shoot over that means a correction is looming. A candlestick close that goes under $0.381 can debunk the bearish outlook for XRP. Ripple price showed colossal strength as it ricocheted off a support zone that hereinafter triggered a bullish streak seen in the past two days.  While…

Ethereum will outpace Visa with zkEVM Rollups, says Polygon co-founder

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zkEVM Rollups, a new scaling solution for Ethereum, will allow the smart contract protocol to outpace Visa in terms of transaction throughput, said Polygon co-founder Mihailo Bjelic in a recent interview with Cointelegraph.  Polygon recently claimed to be the first to implement a zkEVM scaling solution, which aims at reducing Ethereum’s transaction costs and improving its throughput. This layer-2 protocol can bundle together several transactions and then relay them to the Ethereum network as a single transaction. The solution, according to Bjelic, represents the Holy Grail of Web3 as it…

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