Tag: Support

Bitcoin price eases downside as traders demand $24.5K support holds

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Bitcoin (BTC) recovered some lost ground on June 16 as markets shook off mixed United States macro signals. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView BlackRock Bitcoin ETF plan buoys markets Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $25,500 on Bitstamp after bouncing around $1,000 from the previous day’s lows. Popular trader Skew followed moves on major exchange Binance around the price action, uncovering concerted buying efforts at the lows. Sellers subsequently stepped in closer to $26,000. $BTC Sellers found more coins https://t.co/wuHmiYVLrc pic.twitter.com/04bUfGHp3Q — Skew…

Why Bitcoin’s resistance to retesting the $25K support could be futile

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Bitcoin (BTC) has been trading in a narrow 3.4% range for the past three days after successfully defending the $25,500 support on June 10. In this time, investors’ attention has shifted to the macroeconomic area as the U.S. Federal Reserve will announce its interest rate decision on June 14. Cryptocurrencies might work independently from the traditional finance markets, but the cost of capital impacts almost every investor. Back in May, the Fed raised its benchmark interest rate to 5%–5.25%, the highest since 2007. All eyes will be on Fed’s Chair…

Robinhood will end support for 3 tokens named in SEC lawsuits

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Cryptocurrency and stock trading app Robinhood announced it will be ending support for Cardano, Polygon and Solana — all tokens labeled as unregistered securities by the United States Securities and Exchange Commission (SEC) in its recent legal actions against crypto exchanges Binance and Coinbase.  In a June 9 update, Robinhood said it will end support for the three tokens starting on June 27 following a review. In a Twitter thread, the firm specifically cited the SEC’s actions as reasons for the delisting, saying the Coinbase and Binance lawsuits “introduced a cloud…

crypto needs to ‘double down’ on community support

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The crypto industry faced more scrutiny from regulators in the United States this past week, as the U.S. Securities and Exchange Commission (SEC) served both Coinbase and Binance.US with lawsuits regarding their operations.  Amid the accusations from regulatory officials, the members of the crypto community have spoken out against the behavior of the SEC while still agreeing certain regulations are necessary. Rachel Conlan, joined Binance as the new VP of Marketing this week and spoke with Cointelegraph about the importance of fostering community in what she calls a “critical juncture…

Robinhood (HOOD) Ends Support for Some Tokens Named in SEC Lawsuit as Securities

“When Chair Gensler at the SEC in 2021 said, ‘Come in and register,’ we did,” said Robinhood Markets’ chief compliance lawyer Dan Gallagher in his testimony. “We went through a 16-month process with the SEC staff trying to register a special purpose broker dealer. And then we were pretty summarily told in March that that process was over and we would not see any fruits of that effort,” he added. Source

Kraken NFT exits beta, Coinbase ‘Stand with Crypto’ gains support, and more

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Kraken NFT marketplace exits its beta phase Crypto exchange Kraken has announced that its nonfungible token (NFT) marketplace has exited its beta phase. Along with the launch, the NFT platform highlighted that it has expanded its number of NFT collections. The platform noted that it went from supporting 70 collections to over 250. According to Kraken, it will continue adding even more collections into its marketplace.  We are launching out of BETA! #KrakenNFT is your gateway to buying, selling & learning about NFTs! Browse 250+ collections⛓️ Polygon blockchain IntegrationReddit Collectible…

Circle Rolls Out Support for $USDC Stablecoin on Arbitrum $ARB

Businesses that have an account with Circle can now access Arbitrum USDC and “readily swap USDC across supported chains – avoiding the costs and delays associated with bridging,” said Circle’s official Twitter account. Several key applications will support Arbitrum USDC like Aave, Balancer, Camelot, Coinbase, Curve, GMX, Radiant, Trader Joe and Uniswap, according to the announcement. Source

SushiSwap Launch Sushi DEX Aggregator for Liquidity Support

Sushi noted that its team had been working secretly on building an aggregation router for a while now as it is part of the platform’s bigger vision for 2023.  Open-source Decentralized Exchange (DEX) SushiSwap has introduced a new aggregator as it makes its first foray into the aggregation business. With this DEX aggregator, SushiSwap customers are allowed to obtain the best prices when trading on the platform without further or additional procedures. In order words, customers will be offered optimum pricing while also exposed to a large range of assets…