Tag: Support

Tron Founder Justin Sun Says His Crypto Exchange Poloniex Will Support All Future Forked Ethereum Tokens: Report

boss

The founder and former chief executive of smart contract platform Tron (TRX) is reportedly saying that his crypto exchange will support all future forked Ethereum (ETH) tokens. According to a new report by Bloomberg, Sun says that Poloniex, a crypto exchange he heavily backed in 2019, will list any proof of work versions of Ethereum following The Merge. “Proof-of-work is essential to Ethereum [because it is very reliable]. For [a] proof-of-stake smart platform, we have Tron.” Sun is referring to Ethereum’s upcoming merge to its Beacon Chain and transition to…

Has Bitcoin Price Found Support At A Decade-Long Trend Line?

After a volatile first half, Bitcoin price action has been grinding sideways, seeking to find some type of reliable support. Although there has yet to be a clear sign of a reversal, the top cryptocurrency by market cap might have finally found support at a ten-year-long trend line. Complicated Technical Analysis Or This One Simple Trend Line Trick? Technical analysis is the study of chart patterns, trading indicators, Japanese candlesticks, and other data points in an attempt to predict future price action. The very basis of most technical drawings and…

Binance Halts Support for Indian Exchange WazirX After Latter’s Regulatory Scrutiny

boss

Off-chain fund transfers between Binance and Indian cryptocurrency exchange WazirX are expected to be discontinued on August 11. However, users will still be able to deposit and withdraw funds using the standard withdrawal and deposit procedures between the two exchanges. Three days before the news, WazirX’s bank balances totalling $8.1 million connected to the exchange were frozen after The Directorate of Enforcement of India claimed that the exchange “actively assisted around 16 accused fintech companies in laundering the proceeds of crime using the crypto route.” The ownership of the exchange…

Binance sides with Indian regulators in WazirX fallout to cease support for off-chain transfers

As reported by local news outlet The Economic Times on Monday, Binance is scheduled to remove off-chain fund transfers with Indian cryptocurrency exchange WazirX on Thursday, although users will still be able to deposit and withdraw balances via the standard withdrawal and deposit process between the two exchanges. Three days prior, The Directorate of Enforcement of India alleged that WazirX “actively assisted around 16 accused fintech companies in laundering the proceeds of crime using the crypto route” and subsequently froze $8.1 million in bank balances related to the exchange.  Simultaneously,…

SOL Loses $40 After The Exploit – What’s The Next Support?

boss

Solana’s price is unstable following an exploit by hackers draining funds with the use of external applications. Around 8,000 wallets were hacked from Phantom and Solana, with roughly $8 million stolen from users. The coin’s price immediately nosedived to $40 with support at $35. A Solana NFT marketplace, Magic Eden, advised wallet users of Phantom and Solana to revoke their permissions found on the wallet application’s setting. Fortunately, only some wallets were drained of funds, and the network wasn’t jeopardized in its entirety. Yesterday, the trading volume is in pitch…

Binance Coin Finds Support At $240 – Can BNB Barrel Past $300?

Binance Coin (BNB) seems to thrust upwards targeting the $350 mark with the support level spotted at $275 and resistance at $295. According to CoinMarketCap, the Binance Coin’s price has spiked by 3.06% or $300.17 as of this writing. Meanwhile, BNB has tapped on the support zone at $240 instigating a bullish movement that would push it closer to the $300 mark. On the other hand, the coin is still met with rather strong selling pressure. Generally, the crypto market has been making positive price jumps signaling a bullish rally…

3 key Ethereum derivatives metrics suggest $1,600 ETH support lacks strength

boss

Ether (ETH) price is up 60% since May 3, outperforming leading cryptocurrency Bitcoin (BTC) by 32% over that span. However, evidence suggests the current $1,600 support lacks strength as network use and smart contract deposit metrics weakened. Moreover, ETH derivatives show increasing sell pressure from margin traders. The positive price move was primarily driven by growing certainty of the “Ethereum merge” transition to a proof-of-stake (PoS) consensus network in September. During the Ethereum core developers conference call on July 14, developer Tim Beiko proposed Sept. 19 as the tentative target…

Cardano (ADA) Regains Some Support But Rate Stuck Below Vital $0.50 Level

boss

Cardano (ADA) price according to CoinMarketCap registered a jump of 3.96% or $0.5148 as of this writing.   CoinMarketCap hourly chart shows how ADA trades midway slicing in between the support zone of $0.4899 and the $0.5035 resistance level. In addition, ADA’s average transaction value is now 0. As of press time, the 8th largest coin in terms of market cap is in the gray or neutral area which means the coin is neither bullish nor bearish. TradingView’s daily chart on the ADA/USD price shows that it was able to…

BNB Ready To Break Above $300? Fundamentals Support Bulls

boss

Binance Coin (BNB) has been moving sideways around the critical level at $300 and might gather momentum for a rally. The cryptocurrency saw significant losses over the past months, but it has been able to recover faster than other altcoins. At the time of writing, BNB’s price trades at $290 with a 4% and 17% profit over the past 24 hours and 7 days, respectively. Thus, making this cryptocurrency one of the best-performing assets in the crypto top 10 by market cap only surpasses Polkadot’s (DOT) 22% profit in one…