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Price analysis 8/2: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LINK
Bitcoin (BTC) dropped back below $39,000 on Aug. 2, suggesting that short-term traders were booking profits after the price failed to close above $42,451.67. However, lower levels could again attract buying as seen in late July. Data from Santiment showed that Bitcoin held on wallet addresses storing between 100 and 10,000 Bitcoin rose to a new all-time high at 9.23 million Bitcoin on Aug. 1. The previous all-time high for this group of investors was recorded on April 5, just over a week before Bitcoin hit an all-time high of $64,854 on April 14. Santiment highlighted that the “addresses have accumulated approximately 170,000 more Bitcoin” in the last four weeks. A similar pace of purchase was seen in late December 2020, just before the start of the strong bull move in 2021. Daily cr...
How cross-chain liquidity aggregation can shape the future of DeFi
As decentralized exchanges now represent a significant amount of crypto trading volume, it is vivid that these platforms will play a big role in the smart economy of the future. Automated market makers, in particular, changed the game by eliminating the need for order books entirely and replacing them with liquidity pools. This model was a win-win for both traders executing swaps and liquidity providers incentivized to supply their tokens and earn fees from traders. Even the sporadic liquidity issues on DEXes, brought about by a sometimes fragmented marketplace, were addressed by the emergence of DEX aggregators – platforms that would essentially pool together fragmented liquidity onto a single platform. For the most part, however, these DEX aggregators are limited to connecting liquidity ...
Biden says bipartisan deal will solve the country’s lead problem. It won’t.
“What’s needed is at least $45 billion to solve the problem of lead service lines. That, absolutely, is going to be necessary to resolve this issue,” said Erik Olson, head of the Natural Resources Defense Council’s health program. Olson and other advocates hope the bipartisan bill’s funding is just a down payment for additional dollars that could come from a second, Democrats-only reconciliation bill being prepared by Senate leaders. But it is unclear if the political impetus will be there since progressives are focused on advancing climate goals in a second measure — and because Biden and the White House are declaring that first bill solves the lead problem. The bipartisan deal “will put plumbers and pipefitters to work replacing all of the nation’s lead water pipes so every child and eve...
Brand executive posts discounted Utah home listing for Dogecoin
Crypto as a payment option for real estate continues to gain traction as the adoption of digital currencies for commercial transactions continues to take shape. Scott Paul, founder of Utah-based marketing agency Wooly, put up his Saratoga Springs home for sale, with Dogecoin (DOGE) as an acceptable payment method, according to a report by Fox 13 on Sunday. While the listing price is set at $399,000, Paul is reportedly ready to offer a 10% discount if the purchase is made via Dogecoin. Commenting on the potential volatility risk associated with a real estate deal conducted via DOGE, Paul remarked, “I’m a very risky person. I think the chances of me selling it in Dogecoin and having it go up by 20%, 30% or 40% is more likely.” Given the current price of Dogecoin, Paul’s house listing at a 10...
Saudi Aramco dismisses ‘false and inaccurate’ rumors on Bitcoin mining
The Saudi Arabian Oil Company (Saudi Aramco) stirred interest among crypto enthusiasts last year after investing $5 million in blockchain-based oil trading company Vakt. While this move aimed to digitize and streamline post-trade processing, Saudi Aramco was also rumored to undertake Bitcoin (BTC) mining activities. However, Saudi Arabia’s state oil company released an official statement to dismiss the ongoing rumors around mining Bitcoin. It said: “With reference to recent reports claiming that the company will embark on Bitcoin mining activities, Aramco confirms that these claims are completely false and inaccurate.” Many governments, including China, have recently unleashed a crackdown on home-grown crypto mining activities, forcing businesses to find refuge in other crypto-f...
Blockchain identity market to grow $3.58B by 2025, report claims
A new report on the potential for blockchain identity management solutions to become integrated across sectors has forecast strong growth for its global market, at a compound annual rate of close to 71%. The report grounds its predictions on a study broken down into segments by sector — e.g., government, healthcare, banking, financial services and insurance (BFSI), geography, and applications. It was published by the Lyon-headquartered market research solution provider ReportLinker. Drawing on an analysis of several existing blockchain identity management market vendors — Accenture, Amazon, Bitfury Group, Civic Technologies and others — the report expects the total global market to grow by $3.58 billion between 2021 and 2025. Related: The future of DeFi is spread across multiple...
3 reasons why Ethereum can hit $3K in the short term despite overvaluation risks
Ethereum’s native asset, Ether (ETH), dropped after reclaiming its two-month high in the previous session, suggesting that its recent bullish rally was nearing exhaustion. In detail, the ETH/USD pair topped out at $2,699 on Sunday for the first time since June 7. The pair’s peak level also pushed its relative strength index (RSI), a momentum-gauging indicator, above 70 — a mark that analysts consider overbought. Seemingly, traders with short-term risk setups sold the Ether top to secure interim profits, leading up to a modest downside correction. Ether eyes a run-up toward $3.25K based on a Falling Wedge breakout setup. Source: TradingView On Monday, Ether prices rose 1.81% to $2,600 to offset the Sunday sell-off risks. The upswing indicated that traders could still place higher bids...
Chainlink price analysis: LINK could slip below $20
Chainlink risks dropping below the $20 region after the cryptocurrency recorded a more than 30% increase in value last week The cryptocurrency market is in a consolidation period after last week’s rally. Bitcoin is hovering around the $40,000 mark while Ether has finally topped $2,500 and looks set to reach the $2,600 mark soon. Chainlink (LINK) was one of the top performers last week, with its value up by over 30% in the past seven days. However, it risks dropping below the $20 region as the bearish sentiment returns to the market. The medium and long-term outlook for the market remain positive. In the short term though the prices might dip if the bearish sentiment continues. LINK price outlook The LINK/USD 4-hour chart indicates that Chainlink is in a bullish mode despite the recent decl...
Dave, Ed Sheeran Rule U.K. Charts
We’re All Alone is the biggest opening week since November 2019, when Coldplay’s Everyday Life started with 81,000 combined sales, and it’s the biggest opening week for a British hip-hop/rap album since October 2010 and since Tinie Tempah’s debut Disc-Overy. According to the OCC, some 56% of We’re All Alone sales are physical (vinyl, CD, cassette) and downloads, while streams account for the remainder, chalking up 38.5 million plays across the album’s dozen songs. Dave debut LP Psychodrama logged one week at No. 1 in 2019. Coming in at No. 2 is Anne-Marie’s second album Therapy (Atlantic), eclipsing her previous best of No. 3 for her debut, Speak Your Mind. Further down the list, The Kid Laroi’s evolving mixtape F**k Love (RCA) flies 52-6, for a new peak. The set fires up following the rel...
Billie Eilish Cruising to Highest New Entry on U.K. Chart
Eilish enjoyed some peak-time spotlight on Saturday (July 31) when she appeared for an interview on the BBC’s Up Close, and performed several songs. Despite its healthy weekend activity, “Happier Than Ever” is well off the pace of the leader, “Bad Habits” by Ed Sheeran. “Bad Habits” is the market leader on both sales and streams and is heading for a sixth consecutive week at No. 1. Meanwhile, The Kid Laroi and Justin Bieber are on target for another week in the runner-up spot, while Jonasu’s “Black Magic” lifts 5-2, and is chasing a new peak position. The Official U.K. Singles Chart is published late Friday, local time. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beaut...
Ether outpaces Bitcoin ahead of Ethereum hard fork
Bitcoin stagnated over the weekend, while Ether made gains of 3.7% ahead of the London upgrade on Wednesday The crypto market appears to be recovering well after almost every major cryptocurrency recorded positive gains last week. This was certainly true for the largest two coins by market cap — Bitcoin provided returns of 12.5% last week, while Ether was up 16.5% over the same period. Bitcoin growth slowed down towards the end of the week, with the cryptocurrency falling by 5.6% over the weekend. Meanwhile, Ether showed no such signs of stagnation and made gains of 3.7% over the weekend. These changes saw the ETH/BTC chart show an increase of 9.9% over the last two days. A likely driver of Ether’s persistent rally is the much-anticipated Ethereum London Hard Fork, which is due to happen o...
Wealthfront adds support for Grayscale’s BTC and ETH funds
Robo advisor Wealthfront has informed its users that they can now gain access to cryptocurrencies via the Grayscale Bitcoin and Ethereum funds Wealthfront has revealed that it has started integrating cryptocurrency-related products on its platform, and it is starting with the Grayscale Bitcoin and Ether funds. The firm announced this in a blog post late last week, making it possible for its users to gain exposure to cryptocurrencies. The Robo advisor said, “we’re expanding our menu of investments even more to include hundreds of options, including two cryptocurrency trusts: Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).” The firm maintained that it is the service that makes it possible to gain exposure to cryptocurrency. This latest offering is part o...
