Month: August 2024

Bitcoin is undervalued at $60k, price rebound expected

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The Bitcoin price has seen a constant downward momentum over the past few days as the broader cryptocurrency market faces correction. Bitcoin (BTC) briefly touched a local high of almost $70,000 on July 29. The flagship cryptocurrency has since been declining and even dropped below the $60,000 mark earlier today. BTC price, whale activity, MVRV ratio, RSI and supply in profit – Aug. 4 | Source: Santiment Bitcoin is down by 1.55% in the past 24 hours and is trading at $60,532.45 at the time of writing. The asset’s market…

Markets in Freefall, Coinbase Reports Great Q2 Revenue, and More — Week in Review

The U.S. stock market experienced significant declines, and the crypto market fell by 5.82% following a disappointing jobs report, sparking concerns about a potential recession. Meanwhile, Coinbase reported $1.4 billion in Q2 revenue, highlighting growth and regulatory progress in the crypto sector. In Zambia, the central bank aims to enforce the kwacha as the sole […] Source CryptoX Portal

Ethereum Crash A Buying Opportunity? This Whale Thinks So

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Recent price movements in the cryptocurrency market have seen Ethereum experience a significant downturn, with the altcoin finally sustaining a break below the critical $3,000 support level. Ethereum has suffered a notable 4.76% decline over the past 24 hours, bringing its current trading price to just above $2,900.  Related Reading While retail traders are still scrambling for their next move, on-chain data shows an interesting accumulation pattern of ETH by a particular whale entity. This whale, whose strategic moves have historically demonstrated an impressive 100% investment win rate, has been…

Abu Dhabi Unveils Blockchain Center to Drive Blockchain Innovation

A center aiming to drive blockchain innovation and establish Abu Dhabi as a hub for top global events and workshops, connecting industry leaders, has officially opened. Additionally, the blockchain center will incorporate a venture capital arm to support and invest in Web3 startups. Center to Serve as Platform for Launching Latest Blockchain Technology Apps A […] Source CryptoX Portal

Analyst Identifies Three Signals For BTC Price Rebound

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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”…

Crypto-Friendly Mercado Libre Becomes Latam’s Largest Company

Mercado Libre, a financial and e-commerce service company with its own cryptocurrency token, became the largest company in Latin America after announcing its financial results for Q2. Mercado Libre announced a net income of $531 million, significantly surpassing the expected $432 million. Other numbers were also positive, including a 36% growth in sales in Brazil, […] Source CryptoX Portal

Stacks (STX) Drops 23%, But Recent Devs Might Slow The Trend

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With the hostile market environment, Stacks (STX) has continued its downward spiral as bears mount the pressure. According to CoinGecko, the token is down nearly 23% since last week, worsened by the current correction phase the market has entered. The latest market data shows that major cryptocurrencies like Bitcoin and Ethereum have shown a drop of 10% since last week, pulling the market downward by 2%. However, several developments might help slow the token’s drive downward. These developments show Stacks as the prime layer-2 for the top cryptocurrency in the…

Essential Guide for Studios: Choosing the Right Blockchain for Web3 Games

Zach Anderson Aug 04, 2024 06:19 Discover how to choose the right blockchain for Web3 game development. Learn about gaming-focused platforms, security, scalability, and ecosystem support. The burgeoning field of Web3 gaming is attracting a growing number of game studios, with over 380 games already signed to Immutable (IMX), according to immutable.com. As the industry evolves, selecting the right blockchain platform is crucial for success. Gaming Focus: Prioritize Platforms Dedicated to Gaming The Web3 gaming market is projected to reach $65.7 billion…

Blockchain and Nation-State Infrastructure: Why Bother?

We listen to talk after talk about crypto finally achieving asset-class legitimacy, but truly speaking, the encroachment of Wall Street giants into the blockchain space is a double-edged sword. The following is an opinion editorial written by Karel Kubat, Founder of Union Labs. As blockchain enthusiasts, we’ve long championed decentralization, transparency, and democratized access—the 2008 […] Source CryptoX Portal