Tag: Support

Bitcoin price support at $30K opens the door for gains from UNI, ARB, AAVE and MKR

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Bitcoin (BTC) attempted to break away from its boring sideways price action on July 13 following Ripple’s legal victory over the United States Securities and Exchange Commission, but the enthusiasm proved to be short-lived. Sellers pulled the price back into the range on July 14, indicating that they remain active at higher levels. However, a positive sign is that the bulls have kept Bitcoin’s price above $30,000. Market observers are expected to closely follow the review process for the various exchange-traded fund (ETF) proposals for a spot Bitcoin ETF, prominent…

Bitcoin Opens Week Defending $30K Support Level

“So-called mainstream adoption will bring waves of new entrants to bitcoin, and the risk is that they won’t care, and won’t protect the decentralization properties that make it valuable over centralized alternatives in the first place,” Alex Thorn, head of research at Galaxy, wrote last week in his report. Source

3 reasons why Bitcoin’s price is primed to hold the $30,000 level as support

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Bitcoin’s price gave back some of its recent gains this week, but multiple data points suggest that $30,000 should hold as support going forward. Bitcoin (BTC) remained within a narrow 4.3% range for the 15 days leading up to July 7. Despite the proximity of the $29,895 to $31,165 range, investors’ sentiment was significantly impacted by an unsuccessful attempt to break above $31,400 on July 6. Traders’ tendency to overreact to short-term price movements rather than Bitcoin’s year-to-date gains of 82% could be part of the reason for the short-term correction.…

Israeli Lawmakers Support Axing Crypto Capital Gains Tax for Foreigners

“Up until now, workers in the crypto industry had to pay double the tax on their options compared to workers in the traditional high-tech industry. Moreover, foreign investors in the blockchain industry were not entitled to the same benefits as those entitled to investors in the traditional high-tech industry,” Illouz said in a press statement. “This law amendment aims to balance the situation and eliminate the discrimination in taxation.” Source

UAE free zone teams up with HBAR Foundation to support Web3 startups

RAK Digital Assets Oasis (RAK DAO), a free zone in the United Arab Emirates (UAE) dedicated to crypto companies, has signed a memorandum of understanding (MOU) with the HBAR Foundation to support its ecosystem members through a grant program and by providing assistance in leveraging the Hedera blockchain.  In an announcement sent to Cointelegraph, His Highness Sheikh Mohammed bin Humaid bin Abdullah Al Qasimi, the chairman of RAK DAO, said that the collaboration with HBAR Foundation will drive sustainable growth for the ecosystem and will shape a future where the UAE…

Binance ceases support for deposits and withdrawals of suspended Multichain-bridged tokens

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Binance cryptocurrency exchange has announced it is ceasing its support of deposit and withdrawal services for a range of Multichain-bridged tokens, effective from July 7, 2023.  Binance has officially stated in its blog that the tokens impacted by the decision are Polkastarter (POLS) via BNB Smart Chain, Alchemy Pay (ACH) via BNB Smart Chain, Beefy.Finance (BIFI) via Fantom Network, SuperVerse (SUPER) via BNB Smart Chain, Travala (AVA) via Ethereum Network, Spell Token (SPELL) via Avalanche C-Chain, Alpaca Finance (ALPACA) via Fantom Network and Harvest Finance (FARM) via BNB Smart Chain.…

Credit Suisse unveils NFT collection to support women’s football

Swiss investment bank Credit Suisse and the Swiss Football Association (SFA) have collaborated on an NFT collection to support women’s football, featuring 756 digital art portraits of Swiss national team players. In an official press release, the collaboration announced the release of a series of digital portraits showcasing the Swiss Women’s National Team members. All proceeds from the NFT collection will be donated to the team and various organizations dedicated to empowering female football players. The NFT collection, consisting of 756 unique digital assets, will be minted on the Ethereum…

UK Passes Legislation to Support Safe Adoption of Crypto Assets Post Brexit

The UK government wants to adopt the nascent crypto asset industry to enable exponential growth to its economy away from the Brussels shackles. Having successfully secured its independence from the European Union through Brexit, the United Kingdom (UK) continues to reorganize its internal policies to attract international investors and streamline bilateral trade. In the latest developments under the leadership of Prime Minister Rishi Sunak, the UK government announced the Financial Services and Markets Act 2023 was granted Royal Assent on Thursday. Under the economic legislation, the UK government passed to…

Canadian committee proposes measures to support blockchain, crypto

Canadian lawmakers have shown their support for blockchain technology and cryptocurrencies in a report released by the Parliamentary Standing Committee on Industry and Technology (INDU) of the Canadian House of Commons. The report which consists of 16 separate proposals, highlights the advantages and potential of blockchain technology in various sectors. As a result of the INDU’s deliberations, the committee made recommendations that they included in the reports for the consideration of the House of Commons or the government. As part of the recommendations stated in the report, the Government of…