Tag: Support

GameStop will stop support for its crypto wallets, citing ‘regulatory uncertainty’

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Gaming retail company GameStop has announced it will remove its digital wallets from the market starting in November, citing “regulatory uncertainty of the crypto space.” In a notice posted to its website, GameStop said iOS and Chrome Extension wallets will no longer be available starting on Nov. 1, advising users to ensure they have access to their secret passphrases by Oct. 1. The wallets, launched in May 2022, allow users to manage cryptocurrencies and nonfungible tokens, or NFTs. GameStop notice to users of its crypto wallets. Source: GameStop GameStop, once…

Bitcoin Drops Under $29,000, Here’s Where BTC Could Find Support Next

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Bitcoin has plunged below the $29,000 level during the past day. According to on-chain data, here’s the next level that could act as major support. Bitcoin Short-Term Holder Realized Price May Be The Next Support Level As pointed out by an analyst in a CryptoQuant post, the realized price of the short-term holders at $28,000 could be an essential level for the asset. The “realized price” here refers to the cost basis (that is, the buying price) of the average investor in the Bitcoin market. Whenever the price of the…

Dark Days Ahead As $29,200 Support Fails

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In his recent report, Charles Edward, a prominent crypto market analyst, released an update on the state of the Bitcoin (BTC) market. The report highlights the continuation of the downtrend for Bitcoin, which has been losing its key support, the 50-day Moving Average (MA).  The bearish trend has been confirmed by technical indicators and the pure fundamental Bitcoin Macro Index algorithm, which has seen an increasing rate of contraction over the last week. Is Bitcoin Headed For $25,000? The report provides insights into both high and low timeframe technicals, with…

Nearly 75% of the World’s Largest Banks Support the Transfer of Funds to Major Crypto Exchanges: CoinGecko

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An overwhelming majority of the world’s largest banks support the transfer of client funds to major crypto exchanges, according to a new study by digital asset data aggregator CoinGecko. The study examines how crypto-friendly the world’s largest 50 banks are based on two criteria: whether they offer crypto trading or on-ramping services within the bank’s native platforms, and whether they offer the ability to connect a bank account to a major crypto exchange, such as Coinbase, Binance or OKX. Says the report, “37 of the 50 (74%) biggest global banks…

InQubeta finds support, QUBE can flip BTC, BNB, and XRP

InQubeta is popular in the crypto market and getting support for its fundamentals and growth potential. Industry experts predict InQubeta’s utility token, QUBE, to outgrow established coins like Bitcoin (BTC), Binance Coin (BNB), and XRP.  This article examines InQubeta’s features and why it is garnering market-wide support. InQubeta has market-wide support InQubeta is a crowdfunding platform for crypto artificial intelligence (AI) startups aiming to capture the attention and imagination of investors.  Its token presale has raised over $1.9 million, intending to create a mutually beneficial ecosystem where AI startups can raise funds…

US banking advocacy group support Sen. Warren’s reintroduced crypto bill

United States banking advocacy group, Bank Policy Institute, has backed Senator Elizabeth Warrens’ legislation aimed at tackling financial crime, which she first introduced several months ago. According to a July 28 Bloomberg report, Warren reintroduced the bill – titled ‘Digital Asset Anti-Money Laundering Act of 2023’ – on July 28, along with West Virginian Democrat Joe Manchin, Kansas’ Republican Roger Marshall and South Carolina Republican Lindsey Graham. Warren initially introduced the bill to the U.S. Senate in December 2022. The Bank Policy Institute has shown its support for the bill, which demands more…

Chinese, Indian investment professionals show strong support for CBDC in new survey

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The CFA Institute, the professional association that provides Chartered Financial Analyst credentialing, surveyed its members on their perceptions of central bank digital currency (CBDC), saying it wanted to examine the demand-side outlook on the financial technology.  The survey found a wide array of opinions that depended on the location and even the age of the respondents. The response was generally unenthusiastic. Although 47% of respondents said they had a moderate understanding of CBDCs and 42% said they believed that central banks should launch digital versions of fiat currencies (with 24%…

Alibaba to support Meta’s AI model Llama

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E-commerce group Alibaba will become the first Chinese company to make use of Meta’s open-source artificial intelligence (AI) model Llama to power zero-cost development of programs. According to an initial report from Reuters which cited an official statement from Alibaba Cloud through its WeChat account, the cloud computing arm of the Chinese conglomerate has deployed a Llama 2-based solution to allow businesses to develop software and tools using AI: “Today, Alibaba Cloud has launched the first training and deployment solution for the entire Llama2 series in China, welcoming all developers…

Ethereum death cross threatens more downside as ETH price trades at a key support level

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Ether price is down today, and several data points are beginning to suggest that further downside could be in store.  On July 24, Ethereum (ETH) experienced a drop close to its monthly low, reaching $1,825, amid Bitcoin’s negative price action, as uncertainty loomed over macroeconomic conditions and a potential whale sell-off. Several on-chain and technical indicators point to further downside in ETH prices. However, the extent of this downward movement could be limited, considering the profit levels of existing holders and decrease in its liquid supply. ETH on-chain analysis suggests…