Day: July 6, 2024

Chainlink Loses 10%, Further Drop To $6.80 Feared

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The cryptocurrency market continues its summer swoon, with major coins like Bitcoin tumbling to four-month lows. Chainlink (LINK), a key player in the decentralized oracle network space, has been especially hard-hit, dropping 25% since the beginning of June. But is this a buying opportunity, or the precipice of a steeper decline? Related Reading This Chart Pattern Looms Large Technical analysts are scrutinizing Chainlink’s chart, with a particular focus on the dreaded “Head and Shoulders” pattern. This formation, characterized by a central peak flanked by two smaller ones, often signals a…

BONK, WIF, BRETT and PEPE are all up 15%

Meme coins are enjoying their time in the green while Bitcoin (BTC), which experienced a downturn this week, has climbed 3% in 24-hour trading. BONK, WIF, BRETT, and PEPE have all surged over 15% amid a broader meme coin rally. Let’s take a look at each. Bonk At the time of writing, Solana-based meme coin Bonk (BONK) was still up 12% in the last 24 hours. The leading dog-themed Solana coin was trading at $0.000022 per data from CoinMarketCap (CMC). In the same time frame, its trading volume saw a…

Time To Buy The Dip? These Are The Large-Cap Crypto Assets To Watch

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Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking”…

Intimidating Wallet Interfaces Hinder Adoption of Defi Lending Protocols, Says Crypto Veteran

Decentralized finance (defi) has improved efficiency, inclusivity, and performance in consumer lending, but poor user experience remains a significant barrier to adoption, according to Thor Abbasi, co-founder of Zivoe. Abbasi argues that as long as wallet interfaces seem “unintuitive” or intimidating to non-crypto users, defi lending protocols won’t gain traction hence their benefits won’t be […] Source CryptoX Portal

Justin Sun teases ‘willingness’ to negotiate with Germany

Justin Sun appears to be willing to buy Bitcoins via OTC from the German government to “minimize the impact on the market.” The founder of TRON blockchain Justin Sun is teasing his readiness to safeguard the industry as more confiscated Bitcoins hit centralized crypto exchanges. In a Thursday post on X, Sun wrote that he’s “willing” to negotiate with the German government to acquire “all BTC off-market,” aiming to reduce market impact. However, Sun didn’t specify details or a timeline for the potential transaction. I am willing to negotiate with…

Justin Sun Potential $66 Million Loss Revealed As Ethereum Price Declines

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Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active…

German MP urges government to halt BTC sales in lieu of need for ‘strategic reserve’

German MP and major Bitcoin advocate Joana Cotar has called on the government to halt its rapid sale of Bitcoin. Instead, she advocates adopting Bitcoin as a “strategic reserve currency” to protect against potential risks in the traditional financial system. In a July 4 X post, the crypto-friendly politician said Bitcoin (BTC) could assist Germany in diversifying its treasury assets, acting as a hedge against inflation and currency devaluation while also promoting innovation within the country. Cotar added that a continued sell-off would not be deemed sensible and, in turn,…

Analyst Forecasts $44,000 Plunge On 200 Daily EMA Breakdown

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The cryptocurrency market witnessed a significant setback as the Bitcoin price plummeted below the $58,000 level. This downward move has raised concerns among bullish investors, suggesting a potential continuation of the downtrend toward the $44,000 support level.  Bitcoin’s failure to consolidate above and retest its all-time high (ATH) of $73,700, reached in March, has resulted in a retracement of over 20% on the monthly time frame. Bitcoin Price At Risk Crypto analyst “Blockchaineddbb” has provided a noteworthy assessment of the situation. According to the analysis, a daily close below the…

Tangem Partners With Visa to Launch Self-Custodial Crypto Payment Card

Hardware wallet firm Tangem AG is collaborating with Visa to launch a self-custodial payment solution. This collaboration introduces a Visa payment card integrated with a hardware wallet, allowing Tangem users to make payments using their crypto or stablecoin balances at any Visa-accepting merchant across Europe. Unlike traditional custodial solutions, Tangem’s card embeds a private key […] Source CryptoX Portal

LayerZero Bounces Amid Market Retrace, ZRO Soars 20%

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LayerZero (ZRO) has become one of the first altcoins to bounce amid the market retrace. The token has registered green numbers despite its controversial token airdrop last month.  As a result, investors and market watchers remain bullish on ZRO’s long-term performance. Related Reading From ZRO To Market Hero In late June, the omnichain interoperability protocol LayerZero launched its long-awaited ZRO token. The launch, which included a token airdrop for the protocol users, received a negative response from the crypto community. Users found the airdrop’s claim mechanism to be a slap…