3 reasons why REN price is up 340% from its July swing low

Interoperability has become one of the driving themes within the crypto market and as the blockchain ecosystem evolves into an interconnected web of layer-one protocols, the importance of communication and efficiency among decentralized applications (dApps) will also increase. Ren (REN), a blockchain protocol designed to provide interoperability and liquidity between different blockchain platforms, has started gaining traction over the past month and a half as activity in the decentralized finance (DeFi) sector has been on the rise. Data from Cointelegraph Markets Pro and TradingView shows that after reaching a low…

3 reasons why Elrond (EGLD) price is hitting new daily highs

DeFi-focused protocols are seeing a sustained upward move and the the momentum appaers to be picking up pace now that the NFT sector has cooled off over the past two weeks.   Since the beginning of August, Elrond (EGLD), a scalable and secure blockchain platform designed for distributed apps and enterprise-level businesses has been in a strong rally. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $52 on June 22, the price of EGLD has charged 437% higher to a new all-time high at $302.14…

3 reasons why Polkadot is en-route to a new ATH even after a 256% rally

The recent 256% Polkadot (DOT) recovery over the past 56 days has been nothing short of spectacular. Although the price is 23% below its $49.80 all-time high from four months ago, the altcoin’s $39 billion market capitalization has outperformed the Ether (ETH) by 66% over the past thirty days. Polkadot/USDT. Source: Bybt.com Polkadot is a blockchain network designed to support various interconnected, application-specific parallel chains, known as parachains. This scalability-focused project breaks up transactions into many shards and processes them in parallel, similar to what ETH 2.0 aims to achieve.…

3 reasons why BNB is soaring

Binance Coin (BNB), the native cryptocurrency of Binance Chain and top digital asset exchange Binance, is starting to close in on Ether (ETH) in market capitalization.  As of Monday, BNB is valued at $87 billion at the price of just under $600. The valuation of Ether is hovering at around $246 billion, which is 2.8 times larger than that of Binance Coin. $BNB volume > $BTC volume. Congrats @Binance @cz_binance pic.twitter.com/vLkdGBnnIt — Joe Grech (@JoeBGrech) April 12, 2021 The technical momentum of BNB has been so strong that it briefly…

3 reasons Enjin Coin price surged by over 30% in a single day

The price of Enjin, the native token of the blockchain gaming and NFT-focused project, has surged by more than 30% in the last 24 hours. There are three major factors behind ENJ’s strong short-term uptrend, namely the Coinbase listing, technical momentum, and the interest around JumpNet. ENJ price chart since December 2020. Source: TradingView.com Coinbase listing intensifies interest in Enji The price of ENJ has been on a gradual uptrend throughout the past month ever since the project announced the release of Efinity and JumpNet. ENJ started to see a…

5 key reasons why Bitcoin will likely see new all-time highs soon

The price of Bitcoin (BTC) has been under severe selling pressure by whales for the past two months as on-chain data reveals. However, five key indicators are suggesting that major sellers are about to turn into hodlers or even accumulators of Bitcoin again while institutional demand remains high. This is an explosive setup that may send Bitcoin to new all-time highs in the near term. Whales stopped selling The number of whales, which are considered Bitcoin addresses with a balance equal to and more than 1,000 Bitcoin, declined by more…

Spanish Island Government Decides to Sell Its Bitcoin Investment by Citing ‘Ethical’ Reasons – News Bitcoin News

Bitcoin is not liked by everyone from the Island Council of Tenerife, Spain. At least that’s what was suggested by its president, Pedro Martín, who ordered the sale of the local government’s investment in cryptocurrency. Bitcoin Is an ‘Opaque’ Currency, Martín Says Martín, from the Spanish Socialist Worker’s Party (PSOE), issued the order of dismantling the investment made through the Technological Institute of Renewable Energies (ITER) in a previous administration, citing “ethical” reasons. In detail, according to El Economista, the Island Council of Tenerife’s president considers it an “opaque” currency…

3 reasons why Enjin (ENJ) price has rallied 800% over the last month

Nonfungible tokens (NFTs) have taken the world by storm as stories of record-breaking digital art sales now regularly appear on mainstream news outlets and popular culture.  One project that has been well-positioned for years to capitalize on this growing trend is Enjin Coin (ENJ), whose co-founder Witek Radomski was also involved in the development of the ERC-1155 token standard, which enabled the creation of NFTs on the Ethereum (ETH) network. Data from Cointelegraph Markets and TradingView shows that the price of ENJ has risen by 800% in the past month,…

3 reasons why StormX (STMX) price has rallied 2,800% in 2021

Cashback rewards for purchases have long been a popular tactic used by banks and credit card companies to entice consumers to use their services. Several cryptocurrency companies like BlockFi and Coinbase have revealed future plans to offer cryptocurrency-backed debit and credit cards that offer cashback rewards in Bitcoin and StormX (STMX) has joined the crowd. StormX (STMX) is a gamified marketplace that allows users to earn STMX as well as other cryptocurrencies for shopping at one of its online network partner stores or by completing micro-tasks through its app. STMX/USDT…

3 reasons why BTC will unlikely trade below $50,000 in the near term

Bitcoin (BTC) is showing tenacity above $50,000 on March 25. The 10% drop over the last 24 hours happened despite Tesla allowing customers to buy vehicles using BTC in addition to CEO Elon Musk affirming that it will not be converted to fiat currency. On March 22, the United States Federal Reserve chair, Jerome Powell, stated that Bitcoin was too volatile, “backed by nothing,” and more of an asset for speculation. Curiously, on that same day, BTC lost its $56,000 support, which became a resistance. Traders worry that the pump might have…