Tag: Support

Binance Proof-of-Reserve pledge gains support following FTX crisis

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Following the liquidity crisis and acquisition of cryptocurrency exchange FTX, Binance CEO Changpeng “CZ” Zhao said his exchange will soon start a Proof-of-Reserves audit system to allow verification of its digital asset holdings. In a Nov. 8 Twitter post, Zhao pledged to implement a Proof-of-Reserve mechanism at Binance to provide “full transparency” through the use of Merkle Trees — a data structure used to encode blockchain data more efficiently and securely. All crypto exchanges should do merkle-tree proof-of-reserves. Banks run on fractional reserves. Crypto exchanges should not.@Binance will start to do…

Dogecoin retest support $0.1; Here Is why Doge Army Must Defend This Region

 DOGE’s price needs to stay above $0.1 for the price to have a chance to rally high to a region of $0.15.  DOGE’s price continues to trend above key support of $0.1 as the hopes of rallying higher continue to dwindle.  DOGE’s price remains strong, holding key support on the daily timeframes as the price trades above the 50 and 200 Exponential Moving Averages (EMA). Previous weeks saw the price of Dogecoin (DOGE) rally with so much bullish sentiment creating more euphoria for a bull run as the price of…

Dogecoin (DOGE) Makes U-Turn, Why This Support Might Start Fresh Increase

Dogecoin declined heavily from the $0.160 resistance against the US Dollar. DOGE could start a fresh increase if it stays above the $0.090 support zone. DOGE topped near the $0.160 zone and started a fresh decline against the US dollar. The price is trading well above the $0.0700 zone and the 100-day simple moving average. There was a break below a key rising channel with support near $0.1180 on the daily chart of the DOGE/USD pair (data source from Kraken). The pair must stay above the $0.090 support zone to…

Polygon (MATIC) Forms Support Above $1; Here Is Why $1.5 Is Possible

 MATIC’s price needs to stay above $1 for the price to have a chance to rally high to a region of $1.5.  MATIC’s price continues to trend, creating a more bullish bias as the price aim for $1.5, where the price could face resistance.  MATIC’s price remains strong, holding key support on the daily timeframes as the price trades above the 50 and 200 Exponential Moving Averages (EMA). The crypto market had a good run in the previous week as the price of Polygon (MATIC) leveled up to the expectations…

Queen Máxima of the Netherlands comes out in support of digital euro

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Máxima Zorreguieta Cerruti, Queen of the Netherlands, said she was encouraged by the work the European Central Bank had accomplished in its efforts to launch a digital euro.  Speaking virtually at a European Commission conference ‘towards a legislative framework enabling a digital euro for citizens and for businesses’ on Nov. 7, the queen said a digital euro could encourage financial inclusion among underserved communities by circumventing roadblocks including transaction fees and documentation requirements. According to the regent, a central bank digital currency, or CBDC, in the European Union could help…

USDC Issuer Circle to Add Solana Support for Euro Coin in 2023

Euro Coin was introduced in June on the Ethereum blockchain and is backed by a mixture of cash and European government debt. Adoption of the coin has been slow since, with a market cap of just $80 million. USDC, in contrast, has a market cap of $42 billion. The largest stablecoin, Tether’s USDT, has a market cap of $69 billion. Source AddCircleCoinEuroIssuerSolanaSupportUSDC CryptoX Portal

Google Cloud Is Running a Solana Validator, Blockchain Node Engine to Support SOL Chain Next Year – Bitcoin News

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After Google Cloud announced that it would offer a product called the “Blockchain Node Engine” and further noted that Ethereum would be the first blockchain supported, the company revealed it was running a Solana validator on Nov. 5, 2022. Google said that the cloud division is currently working with Solana in order to bring the firm’s Blockchain Node Engine to the Solana chain. Google Is Operating a Block-Producing Solana Validator, Firm’s Cloud Division Aims to Add Solana to Blockchain Node Engine’s Supported Blockchains in 2023 Google is stepping toward other…

Support for Ripple Grows in SEC Lawsuit Over XRP — CEO Says ‘It’s Unprecedented’ – Regulation Bitcoin News

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Support for Ripple Labs in its fight against the U.S. Securities and Exchange Commission (SEC) over xrp has grown, with 12 amicus briefs filed. “It’s unprecedented,” Ripple CEO Brad Garlinghouse said, adding that each brief explains in its own unique way “the irreparable harm the SEC will do to every facet of the U.S. crypto economy if it gets its way.” 12 Amicus Briefs Filed in Support of Ripple A growing number of amicus briefs have been filed in support of Ripple Labs as the company continues to fight the…

Dogecoin Shows Bullish Bias As $0.12 Support Holds; Will $0.15 Be Breached?

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 DOGE’s price fails to rally high as the price continues to stall in its price movement despite the market looking green across boards.   DOGE’s price continues to trend above key support as the price tries to build more strength to overcome this area of resistance that has held the price from rallying.  DOGE’s price remains strong on the daily timeframes as the price trades below the 50 and 200 Exponential Moving Averages (EMA). The price of Dogecoin (DOGE) showed some good price action to the upside as the price has…

Traders expect 200% upside from MATIC, but does Polygon network data support that?

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In the past year, Polygon (MATIC) has focused on growing their list of high-profile partners which includes luminaries like Disney, Starbucks and Robinhood. The recent announcements of partnerships with both Instagram and JPMorgan have speculators pushing the token price up nearly 200%.  In addition to partnerships, blockchain adoption through network usage is important to analyze. Blockchain adoption can be analyzed by looking into daily active users of the blockchain, protocols using the technology, number of transactions and total locked value. Total value locked on Polygon rises above $1B Total value…