Day: August 2, 2022

Web3 Development Remains Strong Despite Crypto Downturn: Report

Titled “Blockchain Open-Source Developers Signal Strength of Web3 Community,” the report examined developer activity on the Ethereum, Bitcoin and Solana blockchains. The data analysts looked at 1,000 active organizations contributing to more than 30,000 open source projects across the chains, collating data from a number of sources, including code repository GitHub. Source CryptoDevelopmentDownturnRemainsReportStrongWeb3 CryptoX Portal

XRP In Bearish Mode As Ripple Unlatches 1 Billion Tokens From 2 Wallets

Ripple (XRP) is in bearish mode and was down 1.93% as seen overnight. Moreover, Ripple has recently freed up over 1 billion XRP tokens coming from two separate escrow wallets. Currently, the crypto trades at $0.38 on the biggest spot exchanges. Ripple has evidently locked over 55% of XRP’s total supply in escrows way back 2017. Analysts believe that its bearish sentiment or weakness is relevant to Bitcoin’s failure to surpass the $24,000 mark as opposed to the controversial unclasping of new tokens that happened recently. In effect, Ripple is…

Another Red Daily Close Puts Bitcoin Below $23,000, Is Recovery Expected?

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Bitcoin has seen another red daily close after a tremendous rally from last week. This has now wiped off most of the gains made during this time period and has left the digital asset struggling below $23,000 once more. The momentum has quickly died down as the news of the recession settled in. Its viability as an inflation hedge is once more called into question given its performance so far this year. Is Bitcoin Still A Good Bet? Bitcoin being an inflation hedge, has been one of the selling points…

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io 🚨 Join my VIP now! – Bitcoin and Ethereum Price Dump / Crash Analysis & Crypto News Update! 👍 THUMBS UP & SUBSCRIBE NOW + 🔔! *** VIP PRIVATE TRADE IDEAS & ALERTS – *** ************** 2022 VIP ELITE INFO: ************** 🚨 VIP PRIVATE TRADE IDEAS & ALERTS – 👆 VIP Link doesn’t open properly on Safari browser- use a different browser! 👆 ************** Are the Bitcoin (BTC) and Ethereum (ETH) price charts potentially going to dump / crash further, in my…

Hedge fund billionaire Steve Cohen exits crypto startup Radkl amid bear market: Report

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Steve Cohen, the founder of hedge fund Point72 Asset Management, has reportedly exited his investment in crypto trading firm Radkl. According to a Tuesday report from Bloomberg citing a Radkl spokesperson, Cohen has reduced his exposure to crypto investments following his exiting the trading firm. However, the spokesperson reportedly said Radkl was still “extremely well capitalized with its current investors” and was continuing to grow. Cohen, whose net worth was estimated at more than $17 billion, has backed crypto and blockchain projects both using his personal portfolio and through Point72.…

To Unplug or Double Down? Crypto Mining in Crypto Winter

Now the math has changed. “When bitcoin dipped below $36,000, I actually unplugged my bitcoin miners,” says one of the leaders of the home mining resurgence, a man who goes by the pseudonym @econoalchemist. His cost of electricity was relatively high, and after the price drop, he was mining at a loss. Because he had no fiat as a cushion (he’s a purist), this hardcore miner had to stop mining. Source

Polkadot ‘cup and handle’ setup sees DOT price 50% higher by September

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Polkadot (DOT) looks ready to extend its ongoing price recovery due to a classic bullish pattern forming on its daily chart. DOT paints “cup and handle” pattern Notably, DOT has been forming a “cup and handle” pattern since mid-June, confirmed by its price crashing and recovering in a rounding, U-shaped trajectory (cup), followed by the development of a trading range on the right-hand side (handle). DOT/USD daily price chart featuring “cup and handle” breakout setup. Source: TradingView Cup and handle patterns are typically bullish continuation setups that form during an…

Zipmex gradually resuming Z Wallet withdrawals, says debt moratorium is not bankruptcy

Crypto exchange Zipmex, which operates in Thailand, Indonesia, Singapore and Australia, released a statement this week denying reports that it has filed for bankruptcy and announcing its progress in resuming withdrawals from its Z Wallets.  Zipmex customers can withdraw Solana (SOL) from their wallets Tuesday and will be able to withdraw XRP on Thursday and Cardano (ADA) on August 9, the company said. Zipmex provides its customers with two wallets: the Z Wallet, used for Zipmex services and receipt of earnings and bonuses, and the Trade Wallet, where fiat currency…

Bits Crypto Raises $1.2M to Facilitate Gradual Investments in Crypto

“Everybody knows that crypto is hard. There’s extreme market volatility, and that’s intimidating to first time investors or wannabe investors,” CEO Jameson Rader told CryptoX. “Fortunately, there is dollar-cost averaging, which is a proven financial strategy to minimize exposure and risk to market volatility.” Source 12MBitsCryptoFacilitateGradualInvestmentsRaises CryptoX Portal