Day: January 15, 2024

Bitcoin Price Turns At Risk of More Losses – Why BTC Could Revisit $40K

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Bitcoin price topped near the $49,000 resistance zone. BTC started a major decline and broke many key supports at $45,000 to enter a short-term bearish zone. Bitcoin peaked near the $49,000 level and started a steady decline. The price is trading below $43,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance near $42,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh decline if there is a move below the $41,500 support…

Ethereum Name Service up by 96% so far in 2024

Ethereum Name Service (ENS) is enjoying bullish momentum in 2024 thus far, gaining 96% over the past week, per CoinGecko data. The surge comes after ENS experienced a massive drawdown in 2023 due to the longstanding crypto winter and regulatory uncertainties. In June, ENS witnessed a bloodbath triggered by regulatory actions against leading exchanges, hitting a five-year low of $6.69. ENS started sliding from its all-time high of $83.40 on Nov. 11, 2021, ending with a cycle low. The bear market continued till 2023.  At the time of writing, ENS…

Polkadot Parachain BitCountry Introduces InnoVoy Event to Boost Digital Identity

To incentivize early adoption, BitCountry is offering an exclusive opportunity for the first 1,000 users to free-mint their BitAvatar IDs without requiring an Invite Code. BitCountry, the pioneering Polkadot parachain project dedicated to developing immersive metaverse communities, is set to introduce BitAvatar, a Universal Avatar identity accompanied by an NFT-bound wallet to the Polkadot community through its InnoVoy Event. As highlighted in a press release shared with Coinspeaker, the InnoVoy event is poised to revolutionize the Web3 identity landscape just ahead of the much-anticipated L1 MNet Continuum launch. BitAvatar: A…

HKVAC revises key crypto index, Solana to replace Ripple.

The Hong Kong Virtual Asset Consortium (HKVAC) unveiled changes to several of its cryptocurrency indexes. HKVAC’s rebalancing, set for Jan. 19, will affect its central index, the HKVAC top 5, as well as the top 1O Index and the Global Large Cryptocurrency Index. The HKVAC top 5 will exclude several prominent cryptocurrencies. For instance, Solana (SOL), which has recently been highlighted for its significant market strides, is set to replace Ripple’s XRP.  Despite the tumultuous 2022 collapse of the FTX crypto exchange, which sent SOL prices plummeting by over 95%,…

Ethereum Classic surges as ETF speculation continues

Ethereum Classic (ETC) experienced a 37% increase over the past seven days. Observers note that the surge is likely due to investors anticipating that the U.S. Securities and Exchange Commission will consider applications for an Ethereum (ETH) exchange-traded fund (ETF). On Jan. 10, the agency approved spot Bitcoin ETFs, However, SEC Chair Gary Gensler cautioned that the BTC ETF green light should not be interpreted as a signal of the agency’s willingness to give ETH the same treatment. Still, Ethereum Classic witnessed a surge of over 35% this week. The altcoin is…