Tag: Support

Here’s What Will Happen If Support Holds

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Chainlink has registered some drawdown and has recently retested the $14 level. Here’s what might happen if support holds at this mark. On-Chain Data Suggests Resistance Is Thin At Higher Chainlink Levels As pointed out by analyst Ali in a new post on X, Chainlink is currently in a critical on-chain demand zone. In on-chain analysis, a price range is defined as major support or resistance based on the number of investors or addresses that bought their coins inside the said range. To any holder, their cost basis is naturally…

Colony Lab to Invest $10M to Support AVAX Crypto Ecosystem, Avalanche Blockchain

“As we channel a $10 million investment into the Avalanche ecosystem, we’re not just growing Colony Lab – we’re fostering the long-term potential of AVAX,” CEO Elie Le Rest said in a message to CoinDesk. “Avalanche understands that real blockchain growth comes from expanding its use cases, and its technology reflects this vision by creating a more inclusive and customizable blockchain landscape. We’re thrilled to align with Avalanche’s vision, and we’re fully dedicated to sharing the rewards of our strategic move with our community.” Source

Blockchain Association Offers Support to Lift Sanctions on Tornado Cash

Blockchain Association slammed the OFAC stating that the regulator should catch hold of individuals engaging in illicit activities instead of imposing the ban. The Blockchain Association has reiterated its support for six plaintiffs challenging the US Treasury Office of Foreign Assets Control (OFAC) over the sanctions imposed on Tornado Cash, a crypto mixer. In a recent amicus curiae brief to a US appellate court, the advocacy group argued that OFAC’s sanction on the privacy protocol was not only unlawful but also exceeded its statutory authority. The Blockchain Association claimed that…

Blockchain Association files support in suit to lift Tornado Cash sanctions

The Blockchain Association has thrown fresh support behind six plaintiffs suing the United States Treasury Office of Foreign Assets Control (OFAC) over its sanctions on the crypto mixer Tornado Cash. In a Nov. 20 amicus curiae brief to a U.S. appellate court, the crypto advocacy group argued OFAC’s decision to sanction the privacy protocol was not only unlawful but exceeded its statutory authority and was both “arbitrary and capricious” — contrary to the U.S. Constitution. It’s the second amicus brief filed by the Blockchain Association supporting a group of Tornado…

Elon Musk receives show of support from crypto pros

X owner Elon Musk received a show of support from crypto professionals, despite a storm of criticism and advertiser departures from his social platform after the world’s richest person made what critics perceived as an anti-Semitic comment.  In a Nov. 18 post, Tamara Haasen, who presides over InputOutput, the engineering and research company behind Cardano (ADA), described Musk as an “effective” leader, a “great operator” and someone clear on what battles to fight. Haseen’s post was in response to an earlier post by Musk stating X will be filing a…

Sushi Expands to ZetaChain to Add Native Support for BTC

“We’re aiming to empower bitcoin holders to engage with key DeFi primitives, such as trading, along with more sophisticated applications like lending and borrowing,” Jonathan Covey, a core contributor to ZetaChain, said in an interview with CoinDesk. By allowing bitcoin to be used with Sushi, it goes beyond its traditional use case as just a store of value, he said. Source

Bakkt shifts focus to custody services, adds support for DOGE, SHIB, other coins

Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15.  Aside from Bitcoin (BTC) and Ether (ETH), Bakkt will expand its custodial support to include Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum Classic (ETC), Litecoin (LTC), Shiba Inu (SHIB) and USD Coin (USDC). The company expects to add more coins to its custodial services in early 2024. The custody of digital assets focuses on the safeguarding of cryptographic keys, which are crucial for accessing…

Altcoin Project Skyrockets Over 200% Amid Support From Crypto Exchange Binance

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A six-month-old altcoin project is soaring after earning surprise support from crypto exchange Binance, the largest digital asset exchange in the world. After Binance announced on November 7th that it was listing ORDI for trading, the new token soared from $7.43 to a high of $23.80, a 220% increase. ORDI tokens, which adhere to the “BRC-20” token standard, are tradable coins that use the Ordinal Protocol to inscribe information into satoshis, the smallest unit of value on the Bitcoin (BTC) blockchain. The project was launched by an anonymous user in March…

OpenSea rolls out Pro version on Polygon, adds support for cross-chain swaps

OpenSea, the digital marketplace for non-fungible tokens (NFTs), has expanded its multi-chain presence after releasing the Pro version to the Polygon sidechain.  Taking to X on Nov. 2, OpenSea said users can now buy and sell NFTs on different marketplaces and blockchain networks. Moreover, OpenSea has launched a cross-chain bridge feature with Socket, a web3 infrastructure for social interactions on-chain. This feature allows users to send tokens to other chains and swap them “in a single flow.” OpenSea supports various ledgers, offering cross-blockchain compatibility across Ethereum, Polygon, BNB Chain (formerly Binance Smart Chain), Base,…