Crypto
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Analysts expect parabolic Bitcoin price move after the ‘last’ resistance at $67K falls
The bulls are on the march again and this time they’ve set their sights on a new all-time high for Bitcoin (BTC) price which is within striking distance of the $67,000 level. Data from Cointelegraph Markets Pro and TradingView shows that a late-night surge on Nov. 7 catapulted the price to an intraday high at $66,557 and at the time of writing trading volume continues to increase as bulls attempt to secure a daily close above $66,000. BTC/USDT 4-hour chart. Source: TradingView Here’s a look at what analysts are saying about today’s rally and where BTC price might head in the short-term. There’s just one final resistance level Independent market analyst Rekt Capital posted the following chart highlighting his point-of-view that there is “one final resistance left before BT...
OTOY’s Render Network plans to render the metaverse on Solana
Jules Urbach, the CEO and founder of OTOY, wants to democratize content creation, specifically as it pertains to virtual assets. OTOY’s technology intends to fulfill the promise of an open cloud-based metaverse via the Render Network — the first decentralized GPU rendering network & 3D marketplace built on OTOY’s OctaneRender NFT ecosystem. While at the inaugural Solana Breakpoint conference in Lisbon, Portugal, Urbach announced Render Network’s integration with the Solana blockchain, as well as a partnership with NFT minting platform Metaplex. Urbach noted that the project’s recent move to Solana happened for a variety of reasons. He mentioned that Solana runs on high-performance code at a fast enough speed to handle scene graph changes on chain without sacrificing securit...
ESG oriented blockchain wants on-chain ‘nutrition labels’ for every commodity exchanged
The Watr Foundation, in partnership with blockchain platform Algorand, recently launched a project to provide ESG scoring for different commodities with a special focus on climate change. While the project has a clear environmental focus, the platform will also include labeling for everything from how a company treats its workers to the number of people participating in an asset’s ecosystem by gender. Watr Foundation council president Maryam Ayati said in a statement: “We believe this next iteration on resource models should be co-created in mutually-owned profit models. It is a privilege and comfort to be collaborating with the pioneers of decentralized technology, blockchain, industry, and environmental products in bringing this blockchain ecosystem to life.” Algorand CO...
3 reasons why Kadena (KDA) price went on a 500% parabolic frenzy
Proof-of-work (POW) blockchain networks were all the rage in the early days of cryptocurrency when Bitcoin (BTC) set the standard for security and other projects followed suit in various attempts to offer a robust, scalable network that would either support payments of efficiently transmit data. Most protocols have now shifted to proof-of-stake but Kadena (KDA), a scalable layer-one blockchain protocol is still operating on the old proof-of-work model. According to the project, the network is capable of processing up to 480,000 transactions per second thanks to the use of “braided chains”. Data from Cointelegraph Markets Pro and TradingView shows that in the last two weeks, KDA price has rallied 1,124% to a new record high at $25.94 on Nov. 7 as its 24-hour trading volume spiked...
Is the correction over in sand? Charts indicating towards a reversal soon
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services. Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for d...
The death of streaming as we know it: here’s why NFTs are the future of music
At the very start of the pandemic, musicians and producers took to social media to survive, hosting drops and virtual concerts. Platforms like Spotify and Facebook were quick to take notice. On October 1, 2020, Facebook amended its terms of service and banned artists from using videos to create a ‘music listening experience’. All those who used videos on the platform, including live performances, would see the videos blocked and their pages, profiles, or groups would be deleted. These guardrails inflicted financial damage on DJs and musicians who relied on platforms like Facebook during the pandemic when live shows were not possible. This especially impacted indie artist, who can now leverage blockchain technology and crypto to catch up and make progress. Music-related NF...
Bitcoin retains $65K after Elon Musk sell-off sees BTC pass Tesla market cap
Bitcoin (BTC) held $65,000 during Nov. 8 as major gains seemed unfazed by Tesla (TSLA) stock losing 5% at the Wall Street open. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin beats Tesla by market cap Data from Cointelegraph Markets Pro and TradingView showed BTC/USD down around $900 at $65,500 after hitting highs of $66,433 on Bitstamp. Overnight success was tapered by the news that Tesla CEO Elon Musk would sell 10% of his Tesla holdings — worth around $23 billion — simply because Twitter users voted for him to do so. TSLA 1-hour candle chart. Source: TradingView Markets reacted cautiously, with TSLA initially opening at $1,150 after closing Nov. 5 at $1,221 before a modest recovery ensued. Aside from being nine months to the day that Tesla purc...
Nigeria’s central bank reportedly freezes crypto traders’ accounts
The Central Bank of Nigeria has reportedly ordered all commercial banks in the country to freeze accounts with at least two individuals engaged in crypto trading. According to a Nov. 7 report from Nigerian news outlet Peoples Gazette, the Director of Banking Supervision, J.Y. Mammanand, issued a notice directing the central bank to close the accounts of two alleged crypto traders and move their funds “in suspense accounts.” Mammanand cited a Central Bank of Nigeria, or CBN, circular issued in February as grounds for the account closures. The crackdown is reportedly part of a larger move by banking regulators to immediately close the accounts of Nigerian residents or companies “transacting in or operating cryptocurrency exchanges” using local banks. In February, the CBN banned banks from se...
Law Decoded: Which currency is the paycheck of your city’s mayor in? Nov. 1–7
Even though crypto has long attained relevance as an independent political issue, at times it gets entangled with the broader dynamics of the political process. The notorious infrastructure bill — a major pillar of the Biden administration’s economic agenda — suddenly passed in the U.S. House last Friday despite congressional Democrats’ original agreement to vote on the party’s other legislative priorities first. Having passed 228 to 206, the bill is moving to President Biden’s desk. Along with authorization of massive spending on roads, bridges and broadband internet access, it carries a handful of consequential crypto-related provisions that remained unchanged since the crypto community had vocally protested its tacit addition to the bill. Disheartening as it is, this setback is not irre...
Coinbase launches standalone browser extension for Coinbase Wallet
United States cryptocurrency exchange Coinbase has rolled out a new standalone browser extension for its Coinbase Wallet, giving users the ability to more easily access thousands of digital assets on decentralized exchanges, commonly known as DEXs. Beginning Monday, Coinbase Wallet will be available as a standalone browser extension, which means new customers can download the tool for free on Chrome. New users also have the option of importing an existing Ethereum-based wallet, such as MetaMask, the company said. Existing customers who have been using the Coinbase Wallet through WalletLink will also have the opportunity to use the new feature by importing the wallet and entering their recovery phrase. Coinbase initially launched its downloadable browser extension for existing custome...
Market highlights: Bitcoin nears its ATH as Ethereum and Avalanche sets new ATHs
After a few days of consolidation, Bitcoin has finally made a decisive move upwards. In the past 24 hours, it has added more than $4,000 to high a 24-hour high of $66,433.55. Bitcoin came inches away from breaking its current all-time high of $66,930.39. It took a slight pullback after getting to $66,433.55, which is just about $496 shy of the ATH. At the time of writing, it was trading at $66,930.39. The upward movement comes after BTC previously tried breaching $64,500 at the beginning of the month before the bears’ power took control and sent it back towards $60,000. It however recovered and started gaining ground over the weekend to consolidate around $62,000 on Sunday. With less than 1% difference between its current price and its ATH, Bitcoin is expected to smash through the AT...
Should you buy ChainLink after a huge breakout on the charts
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services. Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for d...
