Tag: Support

The Mysterious FTX Debacle, Tim Draper’s BTC Price Prediction, More Support for Ripple in SEC Lawsuit — Week in Review – The Weekly Bitcoin News

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As theories proliferate wildly about the true nature of what happened to failed crypto exchange FTX, little is yet clear to the crypto community. Former CEO of FTX Sam Bankman-Fried has addressed the issue publicly on social media, mentioning a mysterious “sparring partner.” This week, Bitcoin.com News has also provided an in-depth look at the rise and fall of the toppled exchange behemoth. All this and more, just below. FTX CEO Updates Crypto Community, Sunsets Alameda Trading, Addresses a Specific ‘Sparring Partner’ On Nov. 10, 2022, FTX CEO Sam Bankman-Fried…

LBank Labs Establishes Blockchain and Crypto Investment Fund to Support the Development of Web3 in Africa – Press release Bitcoin News

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press release PRESS RELEASE. Internet City, Dubai, Nov. 11th, 2022 — Blockchain Crypto Investment Group, LBank Labs, announces the establishment of their new crypto investment fund targeted towards web3 development in Africa. LBank Labs plans to establish a series of regional development funds, including regions such as Korea, South East Asia, and more. This is the first of the sequence of new investment funds from LBank Labs. Africa is one of the areas with a lot of untapped potential for blockchain expansion. With new member Czhang on board LBank Labs,…

Why The Bulls Could Protect This Crucial Support

XRP price started a major decline from the $0.50 resistance against the US Dollar. The recent collapse of FTX and FTT sparked a sharp move towards the $0.32 support. Ripple is down over 15% and there was a drop below the $0.40 support against the US dollar. The price is trading well below $0.4000 and the 100-day simple moving average. There was a break below a major contracting triangle with support at $0.455 on the daily chart of the XRP/USD pair (data source from Kraken). The pair could start a…

Ethereum Bulls Defend $1,200 Support As Price Holds; How Long Will This Last?

 ETH’s price loses its $1,500 support as the price trades to a region of $1,250 before bouncing off this region.   ETH’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors.  ETH’s price remains weak across all timeframes as the price trades above the 50 and 200 Exponential Moving Averages (EMA). Previous weeks saw the price of Ethereum (ETH) and most altcoins trend higher as many produced gains of over 200%, including the price of Ethereum (ETH) rallying from a region…

Why This Support Is The Key For Fresh Increase

BNB price (Binance coin) declined heavily after the FTX collapse against the US Dollar. BNB must stay above the $300 support to start a fresh increase. Binance coin price started a major decline from the $360 resistance zone against the US Dollar. The price is now trading above $300 and the 100 simple moving average (4-hours). There was a break below a major bullish trend line with support near $338 on the 4-hours chart of the BNB/USD pair (data source from Binance). The pair could start a fresh increase if…

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…