Day: July 25, 2024

Cardano (ADA) Falls: Ethereum’s Decline Pulls Altcoins Down

Cardano price started a fresh decline below the $0.4120 support. Ethereum’s decline seems to be dragging ADA lower toward the $0.380 support. ADA price started a fresh decline from the $0.450 resistance zone. The price is trading below $0.4120 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $0.4060 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could continue to move down and test the $0.380 support zone. Cardano Price Shows Signs of More Downsides After…

Giesecke+Devrient: Ghana CBDC Nullifies the Need for Multiple Intermediaries in Cross-Border Payments

The recently completed proof of concept by the Bank of Ghana and the Monetary Authority of Singapore demonstrated that the latter’s central bank digital currency enables cross-border payments, excluding many intermediaries and associated costs. Giesecke+Devrient (G+D) stated that the proof of concept (POC) demonstrated the effectiveness of utilizing digital credentials for international trade and cross-border […] Source CryptoX Portal

Bitcoin Traders Brace for Impact: QCP Capital Signals Incoming Price Drop—Here’s Why

boss

Recent analysis from QCP Capital indicates a marked shift in derivatives market sentiment, signaling that options traders are bracing for further declines in Bitcoin value. Dissecting the Bearish Sentiment The derivatives market has experienced a notable shift over the past day, with the implied volatility in Bitcoin options decreasing. This indicates that traders are worrying more about the possible downside risks. According to a note from analysts at QCP Capital, the spread between call and put options has tightened by three volatility points. QCP Capital noted: While spot prices remain…

XRP Maintains Support: Can It Rise Amid BTC and ETH Declines?

boss

XRP price extended gains above the $0.6220 zone. The price tested the $0.6330 zone before there was a pullback amid declines in BTC and ETH. XRP price started a downside correction from the $0.6330 zone. The price is now trading near $0.600 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $0.5920 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it stays above the $0.590 support zone. XRP Price Holds Uptrend…

Hong Kong Launches Its First Inverse Bitcoin ETF Product

boss

CSOP Asset Management, a regulated asset management company, has become the first to launch an inverse Bitcoin ETF in Hong Kong’s markets. This allows traders and investors to speculate on the decline of the cryptocurrency’s value. The product complements other ETF products already available, further establishing the city as an international crypto market. CSOP Asset […] Original

How Kamala Harris can rebuild crypto bridges burned by Biden

Can Kamala Harris bridge the gap between the Democratic Party and the crypto world after Joe Biden’s impact? Read how. Lately, there have been some key developments in the U.S. political arena that are worth noting.  After Joe Biden abruptly decided to leave the presidential race and endorsed Kamala Harris, she quickly gained the support of her party’s donors, elected officials, and other leaders.  An Associated Press survey indicates that Harris now appears to have the backing of about 3,107 delegates, well above the 1,976 needed to claim the nomination. …

Majority of Americans Believe US in Recession, Survey Shows

New research by Affirm reveals three in five Americans believe the U.S. is in a recession, though it’s not officially declared. A survey of 2,000 people shows inflation and rising living costs (68%) as the main reasons for this belief, followed by complaints from friends and family (50%), reduced spending by peers (36%), and difficulties […] Source CryptoX Portal

Machine Learning Algorithm Predicts Shiba Inu Price Will Rise 119% In 5 Days

boss

With the vast popularity of Shiba Inu in the crypto space and millions of investors holding the SHIB token, the direction of the price has always been an interesting and hotly debated topic. Expectations are that the meme coin will continue to rise drastically as theme coins become some of the frontrunners of the crypto market, and many analysts agree. Even a machine learning algorithm has predicted that the Shiba Inu price will surge in the next few days. Machine Learning Algorithm Predicts 119% Surge The CoinCodex machine learning algorithm,…

Bitcoin Price Falls Again: Is Bearish Momentum Returning?

boss

Bitcoin price started another decline below the $66,500 level. BTC is gaining bearish momentum and might revisit the $63,200 support. Bitcoin started a fresh decline from the $68,500 resistance zone. The price is trading below $65,500 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support at $66,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might extend losses and trade toward the $63,200 support zone. Bitcoin Price Gains Bearish Momentum Bitcoin price failed to…

Ferrari Launching Crypto Payment System for European Market

Ferrari, the iconic Italian luxury sports car manufacturer, announced on Wednesday that it will introduce its cryptocurrency payment system to European dealers by the end of July 2024. This move follows the successful launch of crypto payments in the U.S. less than a year ago, aimed at better serving client needs. By the end of […] Source CryptoX Portal