Tag: Support

Bitcoin $42,000 Support Under Pressure As Short Position Inflows Soar

boss

Bitcoin (BTC) recently experienced a sharp decline, tumbling towards $40,000 amid a broader sell-off across the cryptocurrency market. While the most significant token managed to recover some losses, currently trading 4% lower at $42,000, concerns persist regarding the potential for further downside price action before a potential recovery. Investors Show Caution With Short-BTC Position Inflows According to a recent CoinShares report, digital asset investment products witnessed their 11th consecutive week of inflows, totaling $43 million. Notably, there was a significant increase in short position inflows due to recent price appreciation…

Solana Price Drops Under $70, Watch Out These Key Support Levels for SOL

Solana’s network activity has surged significantly and the current drop in the SOL price could be short-lived leading to a trend reversal soon. Amid strong sell-off in the broader cryptocurrency market, Ethereum Layer-1 competitor Solana is also facing some selling pressure. In the last 24 hours, the Solana (SOL) price has tanked by over 3% slipping under $70. SOL is trading nearly 10% down from its 2023 peak attained last week, however, it still maintains 13% gains on the weekly charts. Solana price continues to maintain its position above $66.…

Chainlink Labs enters into a strategic collaboration with Cointelegraph Accelerator to support Web3 startups

boss

Cointelegraph Accelerator is excited to announce a strategic collaboration with Chainlink Labs, the primary contributing developer of the industry-standard decentralized computing platform Chainlink. This collaboration will align the Cointelegraph Accelerator and Chainlink BUILD programs, helping drive innovation and accelerate the growth of next-gen Web3 projects. Cointelegraph Accelerator and Chainlink Labs join to empower Web3 innovation The Cointelegraph Accelerator is a global program that supports early-stage and up-and-coming Web3 startups. As part of the collaboration with Chainlink Labs, the Cointelegraph Accelerator will provide Chainlink BUILD projects with marketing support, media strategy,…

Web3 firms to support ecosystem development through grants amid market uptick

boss

As Bitcoin (BTC) soared past the $40,000 mark and brought the total crypto market capitalization to $1 trillion, Web3 firms have started to roll out grants to support the development of the blockchain ecosystem.  On Dec. 6, the Worldcoin Foundation, the organization behind the popular Worldcoin (WLD) project backed by OpenAI CEO Sam Altman, announced a $5 million community grants program dubbed “Wave0.” The grants will be disbursed through WLD tokens or stablecoins like USD Coin (USDC). The grant program focuses on various projects such as community organizers, event sponsorships and…

Exchange Launches Version 2.0, Adds Support for Solana and DEX Aggregation

By directly integrating Solana, Hashflow 2.0 becomes the first DEX to offer cross-chain trading between Ethereum and Solana. Decentralized exchange Hashflow is out with its 2.0 iteration, and may have added some advancements to its platform. First off, the December 5 launch includes support for Solana, which is arguably one of the fastest and most scalable blockchains. It also features DEX aggregation services, albeit for the first time on its platform. That is, traders may now access the best prices and liquidity across multiple DEXes, and would, therefore, be able…

DWF Labs Invests Additional $1.25M in FLOKI to Support the Ecosystem

According to Floki, DWF Labs has helped the ecosystem in many ways, including assisting in listing the token on crypto exchanges to make FLOKI accessible to users from around the world.  Crypto market-maker (MM) DWF Labs has acquired an additional $1.25 million worth of FLOKI tokens to support the advancement of the ecosystem. According to a blog post on December 5, the memecoin project Floki Inu announced that the liquidity provider had increased its portfolio with more tokens purchased from the Floki Treasury in early November. DWF Labs Partners FLOKI…

Binance will end support for BUSD stablecoin in December

boss

Major cryptocurrency exchange Binance announced it will cease support for all Binance USD (BUSD) products starting on Dec. 15 following Paxos halting the minting of new coins. In a Nov. 29 notice, Binance said users should withdraw or convert their existing BUSD on the exchange into other assets before Dec. 15. Starting Dec. 31, Binance will disable withdrawals for BUSD. At that point, existing balances will automatically be converted into First Digital USD (FDUSD) for certain users. In accordance with past communications, #Binance will cease support for BUSD products starting…

Ethereum Bears Keep Pressing, Why ETH Price Might Revisit This Key Support

boss

Ethereum price is moving lower from $2,130. ETH is showing a few bearish signs and might decline toward the $1,920 support zone. Ethereum is slowly moving lower below the $2,060 zone. The price is trading below $2,060 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $2,040 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down toward the $1,920 support zone. Ethereum Price Extends Decline Ethereum price started a fresh decline after it struggled…

Bitcoin struggles to flip $38K to support, while UNI, IMX, VET and ALGO aim to push higher

boss

Bitcoin (BTC) rose above $38,000 on Nov. 24, but the bulls could not build upon this strength. This suggests hesitation to buy at higher levels. Bitcoin is on track to form a Doji candlestick pattern on the weekly chart for the second consecutive week. This signals indecision among the bulls and the bears about the next directional move. With Bitcoin maintaining near its 18-month high, BitMEX co-founder Arthur Hayes retained his bullish stance. In a X (formerly Twitter) post, Hayes said that the United States dollar liquidity was increasing, which…