[ad_1] Technical indicators are casting a shadow over Polkadot, the blockchain interoperability stalwart. The token has dipped below the Ichimoku Cloud, signaling a clear downtrend. Adding to the bearish outlook, both the conversion line and the baseline of the Ichimoku indicator loom above the current price, intensifying the negative sentiment. Related Reading Polkadot (DOT) is entangled in a fierce battle with a relentless bear. Once soaring high with its promise of connecting different blockchains, the token now grapples with breaching the stubborn $7 resistance level. Over the past two weeks, it has slipped to as low as $6.16, stirring unease…
Author: dfrancis36
[ad_1] Ethereum price started a fresh increase from the $3,365 zone. ETH outperformed Bitcoin and might aim for a move toward the $3,800 resistance zone. Ethereum started a recovery after the bulls appeared near the $3,365 zone. The price is trading above $3,550 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $3,550 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend gains if it stays above the $3,550 pivot level. Ethereum Price Outperforms Bitcoin Ethereum price extended losses below $3,550 and $3,500 resistance levels.…
[ad_1] On-chain data shows that the Bitcoin taker buy/sell ratio has experienced a significant surge on a particular crypto exchange. Here’s how it could impact the price of the premier cryptocurrency. Bitcoin Investors Buying The Dip On This Exchange Prominent crypto pundit Ali Martinez took to the X platform to reveal that investors on a particular exchange have been taking advantage of the recent fall in Bitcoin price. The relevant indicator here is the taker buy/sell ratio, which measures the ratio between the taker buy volumes and the taker sell volumes. Typically, when the value of this metric is greater…
[ad_1] Solana’s price action has been declining in the past 30 days, and the crypto recently retreated to $141.3, its lowest price in the timeframe. Interestingly, this decline has seen Solana hit a major support level, which could turn the tide in its price action for the next 30 days. According to a social media post by crypto analyst Ali Martinez, Solana could turn bullish for the next few days if this support holds. Solana Hits Major Support Solana has struggled with attention from traders alongside other altcoins, with a majority of the activity going to Ethereum after the SEC’s…
[ad_1] Cryptocurrency has taken the world by storm, with Bitcoin leading the charge. But what underpins these digital currencies? The answer lies in a revolutionary technology called blockchain. This article dives deep into the blockchain world, demystifying its core concepts and exploring its potential beyond cryptocurrencies.What is Blockchain?Imagine a public ledger that’s not controlled by a single entity like a bank, but rather maintained by a vast network of computers around the globe. This distributed ledger, constantly growing and tamper-proof is the essence of blockchain technology.Here’s a breakdown of its key characteristics:Distributed: Data isn’t stored on a single server; instead,…
[ad_1] Fervent Bitcoin proponent Michael Saylor has made another very bullish prediction for Bitcoin’s price tag. His comments, which were made at a recent Prague event, have captured the attention of the crypto community, particularly due to the hefty price tag. While speaking at the event, Saylor predicted Bitcoin could reach up to $8 million per coin, and many investors would miss out on the price surge. Notably, these comments come amidst MicroStrategy’s recent disclosure that it wants to increase its Bitcoin holdings. Saylor’s Bold Prediction At Prague Event While speaking at the Prague event for Bitcoin, Saylor recounted his…
[ad_1] Crypto analyst Jamie Coutts says that the current correction in digital assets is likely a mid-cycle dip that could be taken advantage of. Coutts says on the social media platform X that Bitcoin (BTC) and Ethereum (ETH) have held up much stronger than other crypto assets, implying that a potential mean reversion is on the table for smaller projects. “Smaller cap crypto assets have been taking it on the chin since March high of this year. The past three months have seen the Top 200 equal weight index fall 33% vs. the Market Cap index, which is down around…
[ad_1] A glimmer of hope emerged for Ripple Labs this week in their ongoing legal battle with the SEC. The Securities and Exchange Commission slashed its proposed settlement amount from a staggering $2 billion to a more manageable $102.6 million. While this represents a significant concession, Ripple still faces a tough decision: accept the deal and live with the uncertainty surrounding XRP’s legal status, or risk a potentially disastrous court battle. Ripple Cites Precedent, SEC Emphasizes Distinctions The SEC’s initial $2 billion penalty sent shockwaves through the cryptocurrency industry. Ripple, however, countered with a much lower offer of $10 million,…
[ad_1] Changpeng Zhao (CZ), the former CEO of Binance, a leading cryptocurrency exchange, is currently serving a four-month prison sentence for breaching anti-money laundering regulations. Despite his incarceration, CZ’s control over Binance Coin (BNB), the platform’s native token, remains robust. According to a recent Forbes report, CZ holds a staggering 64% of BNB’s circulating supply, equating to around 94 million tokens. This significant ownership raises questions about BNB’s capacity to withstand the regulatory challenges surrounding Binance. The Double-Edged Sword Of Dominant Ownership CZ’s substantial stake in BNB is both advantageous and problematic. On one hand, it underscores the token’s success. BNB…
[ad_1] As more people enter the cryptocurrency space, BTC mining becomes more complex and requires more computing power. Consequently, many individuals who used to mine Bitcoin on their own machines no longer find it practicable due to the expensive cost of electricity and wear and tear on the gear. BTC mining through cloud mining has emerged as a popular alternative.What is BTC Mining?BTC mining is the process of validating transactions and adding them to the Bitcoin blockchain. Cloud mining is a method of BTC mining that removes the need to set up and maintain the required hardware and software. It…