Tag: Support

Bitwise to donate 10% of Bitcoin ETF profits to support open-source development

boss

Crypto index fund manager Bitwise pledges to allocate 10% of profits from the Bitwise Bitcoin ETF to support Bitcoin open-source development. In an X thread on Jan. 11, Bitwise says it will send the proceeds of its Bitcoin spot ETF to three crypto organizations: Brink, OpenSats, and Human Rights Foundation. Bitwise says that with the donations it wants to “express gratitude to the developers, researchers, builders, educators, investors, and the whole community striving to change the world for the better through Bitcoin.” Investment firm VanEck earlier also pledged to allocate…

Shiba Inu Dev Hints At Major Progress, SHIB Holds Key Support

boss

Shiba Inu lead developer Shytoshi Kusama has hinted at significant progress in the project’s ambitions. Kusama’s statements, shared on X (formerly Twitter), provide insights into the strategic direction of Shiba Inu and its integration with broader internet infrastructure. Alluding to the fake spot Bitcoin ETF approval news, Kusama stated, “Hey, SHIBARMY! While everyone is focused on approved or not, hacked or not, we remained focused on creating what we said we would: A Network State. Since I’m hearing a lot of Web 3 but not enough WEB, let’s talk about…

ETHBTC May Capitulate, Will These Factors Support Ethereum?

Despite ETHBTC trending lower in favor of Bitcoin (BTC), there is a chance that the second most valuable cryptocurrency will recover in the months ahead. Taking to X in support of Ethereum (ETH), a crypto analyst, Mckenna, said a favorable combination of protocol-related and regulatory factors may support ETH, plugging the bleed versus BTC and sparking a refreshing rally. Ethereum slips versus Bitcoin | Source: McKenna via X Ethereum Under-performing Bitcoin: Will This Continue? Looking at the ETHBTC weekly chart, it is evident that Bitcoin bulls have had the upper hand…

Can the $3 support hold?

Optimism price plunged to a 14-day low of $2.90 on Jan. 8, marking a 30% decline from the $4.18 all-time high recorded on Dec. 27. The rapid price decline came on the back of $2.45 million LONG Optimism (OP) futures contracts liquidations within a frenetic 24-hours. Derivative market data trends provide key insights into how dramatic shifts in Optimism futures trading could impact OP spot price action in the days ahead.  Why is Optimism’s price down?  Optimism price reached an all-time high of $4.18 on Dec. 27 as Ethereum Layer-2 scaling…

Analyst Says Expect A Decline To $30,220 If Bitcoin Loses This Support

boss

An analyst has explained how a decline to $30,220 or below could happen for Bitcoin if the strong support range below the current price gets lost. Bitcoin Has Strong Support Between $42,560 And $43,245 Right Now In a new post on X, analyst Ali has discussed how Bitcoin is floating above a strong on-chain support wall currently. In on-chain analysis, the potential of any price level to act as support or resistance lies in the amount of Bitcoin that was last purchased at said level. This is because the investors…

Top Crypto Exchange Binance Announces Upcoming Support for Soon-To-Be Launched Gaming Altcoin

boss

Top global crypto exchange Binance plans to list an upcoming gaming altcoin via its Launchpool platform. Binance Launchpool allows users to stake coins to farm new assets, the platform’s 43rd project will be the gaming blockchain Xai (XAI), which the exchange plans to list on January 9th. Between January 5th and the 9th, Binance users can stake BNB as well as the stablecoins First Digital USD (FDUSD) and TrueUSD (TUSD) into separate pools to farm XAI tokens. Binance says it will attach a seed tag to XAI, which the exchange…

VanEck to support Bitcoin developers using ETF profits

boss

Investment firm VanEck commits 5% of potential profits from its proposed Bitcoin ETF to support Brink, increasing corporate support for open-source development. Investment firm VanEck has pledged to allocate 5% of potential profits from its proposed spot Bitcoin ETF to support Bitcoin core developers at Brink. In a statement, VanEck expressed gratitude and acknowledged the developers’ role as the cornerstone of the Bitcoin ecosystem. We’re not Bitcoin tourists at VanEck. We’re in it for the long haul. That’s why we made an initial $10k donation and signed a pledge to…

Bitcoin Plunges Below Support As Price Crashes To $42,500

boss

Bitcoin appeared to have been securely floating above support just earlier, but today, the picture has changed as the price has suddenly crashed to $42,500. Bitcoin Has Crashed More Than 6% During Past 24 Hours Bitcoin had kicked off 2024 with some sharp bullish momentum as the market had been looking toward the potential ETF approvals with hopeful eyes. The asset had only been at the $45,000 level not seen since April 2022 for just a couple of days before the price suddenly crashed. The chart below shows how cryptocurrency…

Ethereum Price Could Start 2024 With A Strong Increase If It Holds This Support

boss

Ethereum price is correcting gains below the $2,350 zone. ETH could attempt a fresh increase unless there is a close below the $2,200 support. Ethereum is correcting gains and trading below the $2,350 level. The price is trading below $2,320 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $2,300 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if there is a close above the $2,350 level. Ethereum Price Eyes Fresh Increase Ethereum…