Shiba Inu’s New Burn Portal Rewards SHIB Burners for Destroying Their Tokens – Altcoins Bitcoin News

Shiba Inu’s New Burn Portal Rewards SHIB Burners for Destroying Their Tokens – Altcoins Bitcoin News

Shiba inu holders can now get rewards for burning their SHIB tokens as the project’s development team officially launched the Shibaswap burn portal. According to the team, SHIB burners generate passive income in the form of RYOSHI rewards by holding on to a new token called “burntSHIB.”

SHIB Army Celebrates the Token Burn Rate as Burn Portal Goes Live

Supporters of the meme-based crypto asset shiba inu (SHIB) have been discussing the launch of the official Shibaswap burn portal. While SHIB network participants have been burning tokens for quite some time, the burn portal gives any SHIB owners with a Web3 wallet the ability to burn SHIB, and obtain passive income rewards for their burn participation.

On Saturday, the Twitter account @shibainuart wrote: “The SHIB burn portal is LIVE — Burn SHIB, reduce its circulating supply, and generate passive income while doing so.” A great number of other SHIB supporters discussed the official burn portal hosted on Shibaswap as well. While Bitcoin.com News reported on SHIB’s burn rate jumping 26,000% on April 9, the burn rate settled down a great deal after that point.

With the burn portal in place, shibburn.com data indicates that the burn rate is rising once again. Presently, the burn rate has increased by 347.35% during the last 24 hours. According to the official burn portal, the website says 1,441,683,884.82 SHIB since this post was written.

“Welcome to the SHIB Burn Portal,” the website explains. “We’re excited to see you here. This burn portal is set to make it rewarding for users to regularly burn SHIB while effectively reducing its circulating supply.” The website further adds:

This portal has been built to reward SHIB burners, with a passive income acknowledgement, in the form of RYOSHI rewards. Meaning that 0.49% of all RYOSHI transactions will be distributed to owners of burntSHIB.

SHIB Team believes Every Burn Will Help ‘the Wealth of the Community Grow’

According to the burn portal website, SHIB burners that obtain burntSHIB will get an estimated 43.76% annual percentage rate (APR), but the APR does fluctuate. The website explains that users need to add the token burntSHIB to their Web3 wallet like Metamask.

The SHIB burn portal hosted on Shibaswap on April 23, 2022.

“Our hope is that with every burn, the wealth of the community grows, but also by rewarding the effort in the long term to make shiba inu one of the best digital assets in the history of cryptocurrencies,” the official burn portal explains. Meanwhile, many SHIB fans posted proof that they had burned SHIB on Twitter or shared the current burn rate percentage increases.

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Altcoins, Burning SHIB, burntSHIB, Developers, passive income, Reducing Supply, Rewards, Ryoshi, RYOSHI Rewards, shib, SHIB Army, Shib Burn, SHIB burn rate, SHIB devs, SHIB team, SHIB website, SHIBA BURN, shiba inu, Shiba Inu Network, Shibaswap, Shibaswap 2.0

What do you think about the Shibaswap burn portal and SHIB fans celebrating the rising burn rate? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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Report Says Binance Shared Client Data With Russia, Crypto Exchange Denies Allegations – Exchanges Bitcoin News

Report Says Binance Shared Client Data With Russia, Crypto Exchange Denies Allegations – Exchanges Bitcoin News

Cryptocurrency exchange Binance has been accused in a media report of agreeing to provide user data to Russia’s financial watchdog. The trading platform has refuted the allegations. It also insists it’s complying with Western sanctions imposed over Moscow’s invasion of neighboring Ukraine.

Binance Consented to Russian Request for Customer Info, Reuters Claims in ‘Special Report’

Binance, the world’s leading digital asset exchange, has agreed to hand over customer data to Russia’s financial intelligence agency, a report by Reuters suggests. The article refers to messages allegedly sent by Binance’s regional head Gleb Kostarev to a business associate revealing that the Russian officials asked for such information, including names and addresses, during a meeting last April.

The Federal Financial Monitoring Service of the Russian Federation (Rosfinmonitoring) saw its request supposedly motivated by the need for help in the fight against crime. Quoting an anonymous source familiar with the matter, the authors note that at the time, the financial watchdog was trying to trace millions of dollars in bitcoin raised by imprisoned Russian opposition leader Alexei Navalny’s team.

Rosfinmonitoring labeled his network a terrorist organization a year ago. The Kremlin critic claimed the crypto donations were used to fund efforts to expose corruption inside President Putin’s administration. Supporters who sent money through Russian banks were interrogated, Navalny’s foundation says. After his arrest in January 2021, it encouraged backers to donate via Binance.

Navalny was detained upon his return to the Russian Federation, after recovering from poisoning that the West blames on Russia’s Federal Security Service (FSB), an accusation rejected by Russian authorities. Relying on statements from several unidentified persons who interacted with the regulator, Reuters writes that the agency acts as an arm of the FSB. Officially, it is an independent body responsible for combating money laundering and terrorist financing.

Kostarev, Binance’s representative for Eastern Europe and Russia, reportedly consented to Rosfinmonitoring’s request to agree to share client data, according to the said messages. He also told his business partner he didn’t have “much of a choice.” Binance commented for Reuters it had been “actively seeking compliance in Russia” before the war in Ukraine, which would have required it to respond to “appropriate requests from regulators and law enforcement agencies.”

Crypto Exchange Rejects Claims as ‘Categorically False’

Quoting an industry research firm, the Reuters article further unveils that Binance’s trading volumes in Russia have spiked since the conflict began, as Russians sought to protect their assets from sanctions and a devaluing national fiat. Data from Cryptocompare indicated that in March Binance processed almost 80% of all ruble-to-crypto trades. On Thursday, the exchange announced, however, it’s limiting services for Russian account holders to comply with the latest EU sanctions.

Refuting the allegations in the report, Binance described the cited market data as inaccurate, and while pointing out that it “aggressively implemented sanctions against Russia,” in answers to questions from Reuters, it reiterated its belief that “it would be unethical for a private organization to decide unilaterally to freeze millions of innocent users’ accounts.” In a statement published Friday, the company said it had “stopped working in Russia” as soon as the war started.

While emphasizing that “fulfilling disclosure obligations to the authorities in each jurisdiction is a large part of becoming a regulated business,” the global crypto trading platform said that the suggestions it shared any user data, including related to Alexei Navalny, with agencies controlled by the FSB and Russian regulators are “categorically false.” Binance insisted it had not sought to assist the Russian state in its attempts to investigate the opposition leader.

Tags in this story
Accusations, Allegations, claims, Crypto, Crypto Donations, crypto exchange, Cryptocurrencies, Cryptocurrency, Exchange, financial watchdog, Kostarev, Navalny, opposition, regulator, Regulators, restrictions, Rosfinmonitoring, Russia, russian, Sanctions, Ukraine, user data, users, War, watchdog

What are your thoughts on the report alleging that Binance shared user data with Russia’s financial watchdog? Let us know in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Devs Send the First Dogecoin Transaction Without Internet via Radio Doge – Bitcoin News

Devs Send the First Dogecoin Transaction Without Internet via Radio Doge – Bitcoin News

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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Why Bitcoin Could Revisit $27K, Peter Brandt Says

Why Bitcoin Could Revisit $27K, Peter Brandt Says

Bitcoin is back below $40,000 as the general sentiment in the market seems to turn pessimistic. The first crypto by market cap has been unable to climb back to the $50,000 area and has been moving in a tight range around its current levels.

Related Reading | Bitcoin Follows US Stock Dive, Experts Predict $37,500 Price Level

Negative predictions for Bitcoin and other larger cryptocurrencies are increasing. The uncertainty around the war between Ukraine and Russia, and the U.S. Federal Reserve (FED) hike in interest rates seem to be the two main catalysts for the weakness in the global market.

Legendary trader Peter Brandt seems to favor the short-term bearish thesis. Pseudonym users shared a Bitcoin price prediction with Brandt which suggest the cryptocurrency could revisit critical areas of support below $30,000.

This could BTC’s price to $28,000 or $27,000 as soon as May or June this year. This prediction matches that of BitMEX CEO Arthur Hayes. He expects BTC and ETH to crash to $30,000 and $2,000, respectively.

As seen below, in the chart presented to Brandt, Bitcoin would drop to its support zone before resuming its bullish momentum into uncharted territory. In the months after that, the first crypto by market cap could rise by about $100,000. Brandt said:

Very possible. This has been my guess for many months. We will see.

Source: @CrypoFuture via Twitter

The crypto market is currently correlated with traditional finances. The price of Bitcoin has been moving in tandem with the Nasdaq 100.

When big tech stocks show weakness, so does the price of BTC. In that sense, the bearish thesis could find more support in the following chart.

Bitcoin BTC BTCUSD
Source: Peter Brandt via Twitter

Shared by Brandt, it suggests a bigger drop in big tech equities which could impact the price of Bitcoin and put additional selling pressure on the crypto market.

Bitcoin Could See Short Term Relief

However, traders should take any prediction with a grain of salt especially coming from Brandt or Hayes. They can change their opinions and forecasts if the market conditions support them.

In the short term, Bitcoin has managed to stay at its current levels despite the increase in selling pressure. Data from Material Indicators shows important support below the price.

There are over $33 million in bid orders from $39,000 to $38,000 which suggest BTC could bounce back from here in case of future downside price action. To the upside, $41,500 stands as the potential biggest resistance with around $8 million in asks orders.

Bitcoin BTC BTCUSD
BTC moving sideways on the 4-hour chart. Source: BTCUSD Tradingview

Related Reading | Bitcoin Follows US Stock Dive, Experts Predict $37,500 Price Level

As NewsBTC reported, the options market is positioning for a potential crash. There has been an uptick in calls selling for May and June and an increase in demand for put options. In other words, traders are getting bearish.



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Polygon Reveals Supernets Project to Bolster Web3 Adoption, Pledges $100 Million to Early Users – Bitcoin News

Polygon Reveals Supernets Project to Bolster Web3 Adoption, Pledges $100 Million to Early Users – Bitcoin News

On April 22, the layer two (L2) scaling network Polygon introduced the new Supernets network, a blockchain protocol that’s built to bolster Web3 technology. Furthermore, Polygon is pledging $100 million to early Supernet users “who can help fast-track adoption.” The announcement details that Supernets is essentially the team’s Polygon Edge network “on steroids.”

Polygon Supernets — Dedicated, Scalable Blockchains That Aim to Ignite Mass Adoption

Polygon has revealed a new project called Supernets after launching Polygon Edge last year. Essentially, Polygon Edge is a customizable blockchain stack that allows users to launch dedicated blockchain networks that do specific things. Following the Edge launch 11 months ago, the team has revealed Polygon Supernets, a project powered by Edge with fewer complexities. While Supernets still uses Edge, the latest rollout offers “several important characteristics” that mitigate complexities involved with Edge.

Supernets basically allows developers to build custom networks without all the costs associated with servers. The Polygon team says Supernets are a dedicated solution, as “every Supernet is built and run for a specific application, project or use case,” which gives users the advantage of “dedicated Web3 hosting.” The networks can also be secured using Polygon’s native crypto asset MATIC. In order to increase awareness and adoption, Polygon has further revealed it is allocating $100 million to early Supernet users.

“Super excited to introduce Polygon Supernets powered by Polygon Edge,” the team tweeted on Friday. “Polygon Supernets are dedicated, scalable blockchains that aim to ignite mass adoption of Polygon and Web3. To support this ambitious product and goal, we are announcing a $100M support fund.” The team’s Twitter thread mentioned that more than 20 projects “are already building on Edge” and the Polygon team learned a lot from these teams. Polygon also shared five advantages of using Supernets which include:

  • They are dedicated;
  • Can use MATIC PoS validators out-of-the-box;
  • They are interconnected;
  • Can be managed/maintained by our Certified Partners;
  • Support any Edge architecture.

Polygon Co-Founder Says Supernets Can ‘Fast-Track Blockchain Ambitions’

Polygon has been making a lot of development and business moves over the last 12 months, and during the first week of February, the project raised $450 million from investors such as Sequoia Capital India, Softbank, and Shark Tank’s Kevin O’Leary. Last December, Polygon acquired the Mir Protocol for $400 million and that same month Polygon started a $200 million social media-based Web3 fund with ​​Alexis Ohanian’s Seven Seven Six venture capital.

This April, Polygon announced the launch of a zero-knowledge identity platform for Web3. According to Friday’s Supernets announcement, the $100 million will be distributed for things like development contracts, research contracts, grants, third-party integrations and partnerships, onboarding and migration, liquidity mining, and acquisitions.

​​”For mass adoption of Web3 to take hold, it is critical to abstract the complexities of blockchain development and simultaneously offers scaling ability and personalization,” Mihailo Bjelic, the co-founder of Polygon concluded in a statement. “Polygon Supernets deliver all this, enabling any project to fast-track their blockchain ambitions and join the growing Polygon multi-chain ecosystem.”

Tags in this story
$100 million fund, $450 million capital raise, complexities, crypto assets, development contracts, grants, Mihailo Bjelic, Multi-Chain, multi-chain ecosystem, Polygon, Polygon (MATIC), Polygon co-founder, Polygon Early Users, Polygon Edge, research contracts, Supernets, Supernets Blockchains, third-party integrations, Web3, zero-knowledge identity platform

What do you think about Polygon Supernets? Let us know what you think about this project in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Tap into OneSwap’s New Feature

Tap into OneSwap’s New Feature

As the external factors become more uncertain since the first quarter of 2022, the crypto market has kept fluctuating. Recently, it is reported that the Federal Reserve might hike up interest rates by 50 basis points in May, and the crypto market would go through a sharp price correction along with the US stock market. According to alternative.me, Crypto Fear & Greed Index has seen wide swings during the past three months and plummeted at 11 (0 means “extreme fear”). Generally speaking, market fears have increased over the recent period, and the excitement has been dampened, which is related to the recent volatility of the crypto market.

Source: alternative.me

Many investors believe that the crypto market would witness a period of volatility if the Fed were to raise interest rates by a scale that exceeds market expectations in May. That said, couldn’t we profit from market swings?

In fact, investors can still profit during market swings. PREDICTION, which is a new feature that OneSwap will soon launch, allows investors to bet on crypto rises/falls and win prizes. With PREDICTION, investors will be able to profit whether the crypto price goes up or down.

Profit from PREDICTION despite market swings

According to official news, OneSwap will introduce a new feature called “PREDICTION” on April 29. After the function is launched, investors who hold CET can easily win prizes by betting on the market trend of a certain crypto per round (every ten minutes).

Suppose that OneSwap opens a BTCUSDT prediction market, and users could then predict the USDT worth of BTC 10 minutes later and choose “Bet on rise” or “Bet on fall” and submit the amount of bet (CET). The bet would be temporarily deposited into the Prize Pool until the end of the round, and winners can get back their bet and earn prizes.

As PREDICTION only accepts CET, OneSwap will also kick off a Prediction Trial Fund Competition that offers free CET trial funds to users on April 23. Please follow OneSwap on Twitter (@OneSwap: https://twitter.com/OneSwap) to stay updated.

Activity website:

After this new feature goes live, OneSwap will also launch the “Win Rate Ranking Reward Game” that will last from April 29 to 09:00 on May 6 (UTC). The winning records of all users who have made a bet via PREDICTION during this period will be covered by the Win Rate Ranking. After the event ends, the top 3 winners who have placed no less than 50 bets will receive incredible CET rewards.

According to the official announcements, OneSwap will kick off a series of events relating to the new function over the recent period. All users who followed @OneSwap on Twitter could win the following rewards:

  1. Collect CET trial funds for PREDICTION on April 23;
  2. Earn prizes by betting on price trends via PREDICTION on April 29;
  3. The top 3 winners of the Win Rate Ranking Reward Game who have placed at least 50 bets before May 6 will get CET rewards.

Drive growth through innovation & build a thriving DeFi ecosystem

OneSwap is a fully decentralized transaction protocol based on smart contracts. It does not require permission to list tokens and supports automated market-making (AMM) and the order book. In addition, OneSwap improves user-platform interactions via the built-in OneSwap Wallet, providing one-stop transaction experiences.

Since its inception on September 19, 2020, OneSwap has been running safely and stably on multiple public chains, covering ETH, CSC, TRON, and BSC. Moreover, it has continued to introduce innovative features and optimize existing functions to create differentiated advantages. Unlike other liquidity mining products, OneSwap has introduced an AMM-based on-chain order book enabled by smart contracts, which increases the liquidity of users’ crypto assets and solves the liquidity challenges facing DeFi. In terms of smart contracts, OneSwap uses a flexible data structure to minimize gas fees for users and charge lower transaction fees. In February 2022, OneSwap launched multi-crypto merged mining, which allows users to mine more types of cryptos. PREDICTION, a new OneSwap function coming soon, helps investors win prizes through crypto volatility and will start a betting spree after it goes live.



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While Apecoin Reaches New Price Highs, Data Shows Top 100 APE Holders Control 52% of the Supply – Bitcoin News

While Apecoin Reaches New Price Highs, Data Shows Top 100 APE Holders Control 52% of the Supply – Bitcoin News

During the last two weeks, statistics show the new crypto asset dedicated to the Bored Ape Yacht Club community (BAYC), apecoin (APE), has climbed more than 50% against the U.S. dollar. A few days ago, apecoin tapped an all-time high at $17.30 per unit and the crypto asset is now the 32nd largest in terms of market capitalization among 13,691 other cryptocurrencies. Data also shows out of the 48,570 APE holders, there’s a large concentration of apecoin whales.

A Large Concentration of Apecoin Whales

The BAYC-infused apecoin (APE) has been a popular crypto project ever since the coin project was introduced and millions of coins were airdropped to NFT holders. More specifically, the holder’s NFTs derived from the BAYC, Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC) collections.

According to statistics, the initial airdrop aimed to distribute 150 million APE and to date, 140,725,540 APE has been claimed. Data shows there’s 284,843,750 APE currently in circulation among 48,570 APE holders. Looking at the apecoin (APE) rich list via coincarp.com shows that out of all the APE in circulation, there’s a large concentration of apecoin whales.

For instance, the top ten APE holders custody 9.16% of the 284.84 million APE in circulation, which equates to 26,091,687.5 apecoin. The top 20 holders currently have 14.16% of the APE in circulation under their control which is 40,333,875 APE. Data further shows the top 50 APE holders command 29.16% of the APE in circulation, which equates to 83,060,437.5 apecoin. Moreover, the top 100 APE wallets hold 52.36% of the APE supply today.

The 100 holders represent 0.20% of the 48,570 APE holders today. In fact, the top address holds 30,305,548 APE which is 3.03% of the current supply. The second-largest APE address holds 10,833,332 APE or 1.08% of the apecoin in circulation.

3% of All APE Trades Settled on Binance, 42% of All APE Trades Are Paired With Tether

Presently, APE is only 4% away from surpassing the token’s all-time high and the coin has seen $1.87 billion in 24-hour trading volume. Apecoin has the largest quantity of trade volume on the decentralized exchange (dex) platform Uniswap. In terms of dex platforms, APE is also prominent on Sushiswap, 1inch, and 0x Native, respectively.

Binance is the most active centralized crypto exchange trading APE today as the crypto’s top pair is tether. At the time of writing, USDT represents 42.26% of all APE trades worldwide. Over 3% of all the apecoin (APE) trade volume has been settled on Binance. Meanwhile, because of apecoin’s recent price high, the hashtag #APECOIN is trending on Twitter this weekend.

Tags in this story
32nd spot, APE, APE whales, Apecoin, Apecoin whales, Asset Distribution, BAKC, BAYC, Binance, Bored Ape Yacht Club, crypto assets, Distribution, MAYC, NFT Holders, NFTs, top 32, Trading Volume, uniswap

What do you think about the large concentration of apecoin whales? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Bitcoin Slips Below $40k After Hostile Statements From Fed

Bitcoin Slips Below $40k After Hostile Statements From Fed

Bitcoin, the flagship crypto slipped below $40K after the Federal Reserve Bank of the United States made hostile comments.

Powell stated on Thursday that at the upcoming Federal Open Market Committee meeting, the Federal Reserve will consider raising the benchmark interest rate by 50 basis points (0.5 percentage point).

Bitcoin Slips Below $40K

It was just a few days ago that the leading cryptocurrency hit a high of about $43,000, its highest level in over 10 days. This was an especially surprising price given that the asset had fallen to a monthly low of just $39,000 earlier this week.

BTC, on the other hand, was roundly rejected at its local peak and quickly reversed course. The asset’s value plummeted to $40,000 in a matter of hours.

As the bulls lose the $40,000 support level, a level that has yet to be established as a meaningful line this year, the most valuable coin has no shortage of negative mid-term predictions.

Bitcoin’s price failed to retain the important levels of $41,500 and $40,000 despite a strong negative control. Bears are expected to aim for the $38,536 swing low from Monday, which is a clear objective for those still in the trade. If the swing low is breached, the BTC price may be disappointed and fall back to low $36,000.

As a result, bitcoin’s market capitalization has dropped to $750 billion, after briefly surpassing $800 billion earlier this week.

Related Reading | Why A “Boring” Bitcoin Could Be A Good Thing

Buy Or Sell?

BTC price has to open above $44,088.73 on Monday, as a Macron victory will cause the Greenback to fall further, allowing for further upside possibilities. Add to that the fact that news from Ukraine is becoming increasingly second-tier and receding into the background, indicating that talks are still ongoing and a solution might be reached at any time, as Russian military efforts are now focused solely on the west, rather than the entirety of Ukraine.

The French election is the major event risk this weekend. If Le Pen, a far-right candidate, defeats Macron in the election, expect a huge market shift and shock on Sunday evening and Monday in the ASIA PAC session.

Currently, investors are ‘waiting and watching’ to see how the supply-demand situation will react to the support area. Since late January, the BTC price has been trading in a ‘rising wedge pattern,’ as shown on the weekly chart.

BTC/USD trades at $39k. Source: TradingView

A bounce-back is expected at the price from the current level with the bulls targeting the 51,000 mark. However, in this course of the journey, the bulls must close above the 50-day EMA (Exponential Moving Average) at $43,071.

Related Reading | Is Bitcoin Gonna See Another Big Drop Soon? Historical Trend May Say Yes

Featured image from Pixabay, chart from Tradingview.com



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MATIC Slips on Saturday, RUNE and LUNA Over 5% Lower – Market Updates Bitcoin News

MATIC Slips on Saturday, RUNE and LUNA Over 5% Lower – Market Updates Bitcoin News

MATIC fell to its long-term support level on Saturday, following a surge in price during Friday’s session. This came as both RUNE and LUNA also dropped, and traded by as much as 5% lower to start the weekend.

Polygon (MATIC)

During what has been a bearish start to the weekend, MATIC was one of the biggest losers so far in Saturday’s session.

MATIC, which traded at its long-term resistance level of $1.50 on Friday, fell all the way to its support point earlier today.

As of writing, Saturday saw MATIC/USD drop to a bottom of $1.35, which is also its long-term floor, and is now around $0.10 away from a two-month low.

Biggest Movers: MATIC Slips on Saturday, RUNE and LUNA Over 5% Lower
MATIC/USD – Daily Chart

Today’s selloff comes following strong gains on Friday, however bullish momentum eased, as prices ran into the ceiling.

In addition to this price ceiling, the 14-day RSI saw its own resistance reached, as relative strength failed to break above the 45 level.

MATIC has mostly consolidated between $1.35 and $1.50 during the month of April, and as market uncertainty continues, it looks like we may end the month trading within this range.

THORChain (RUNE)

There was no rebound in price for RUNE, which fell for a fourth consecutive session to start the weekend.

So far this Saturday, RUNE/USD has slipped to a bottom of $8.21, which is three days removed from a peak of $9.88, where bulls were attempting to break the $10 threshold.

However, since then momentum has only faded, with the mid-term 25-day (blue) moving average now firmly lower, as it continues to trend downward.

Biggest Movers: MATIC Slips on Saturday, RUNE and LUNA Over 5% Lower
RUNE/USD – Daily Chart

One positive for bulls however, is that this downward descent is helping increase the chances of a cross with the 10-day (red), which could help trigger a rebound.

Typically, when the 25-day moving average slips, price strength follows, and usually resides in oversold territory, which bulls use as a sign to buy low.

As of writing, the 14-day RSI is now tracking at 47.02, however we could see relative strength move towards a floor of 44, should this recent bearish pressure remain.

Could we see RUNE trade above $10 before the end of the month? Let us know your thoughts in the comments.

eliman@bitcoin.com'
Eliman Dambell

Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.




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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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BTC Moves Below $40,000 on Saturday – Market Updates Bitcoin News

BTC Moves Below $40,000 on Saturday – Market Updates Bitcoin News

Bitcoin fell below $40,000 to start the weekend, as crypto markets continued to be submerged by the latest red wave. ETH was also lower on Saturday, and remained in the red for a second consecutive session.

Bitcoin

BTC dropped below the $40,000 level to start the weekend, following a three-day losing streak which has pushed price close to multi-week lows.

Following a peak of $40,524.76 on Friday, the world’s largest cryptocurrency fell to a low of $39,315.42 earlier today.

This move is less than 48 hours removed from BTC/USD trading above resistance of $42,500. However, following a false breakout prices have moved back towards support.

Bitcoin, Ethereum Technical Analysis: BTC Moves Below $40,000 on Saturday
BTC/USD – Daily Chart

The support point on this occasion is the $39,500 floor, where bitcoin started trading this week, before its initial midweek rally.

Ultimately, today’s return to support has been a perfect encapsulation of the current volatility within crypto markets this week, and April in general, where we have mainly seen consolidation.

In addition to this, the 14-day RSI is now tracking at 40.5 which is an area where bullish momentum typically picks up — as such, the possibility of a rebound remains high.

Ethereum

ETH was lower for a fourth consecutive session, as prices once again traded below the $3,000 support level.

As of writing, today’s low sees ETH/USD fall to a bottom of $2,926.74, which comes after a high of $3,007.41 yesterday.

Since this low, which broke past support of $2,950, the world’s second-largest cryptocurrency moved marginally higher, as bulls re-entered.

Bitcoin, Ethereum Technical Analysis: BTC Moves Below $40,000 on Saturday
ETH/USD – Daily Chart

Typically, we have seen strong bullish pressure at this floor, and so far today this has been the case, with ETH now trading at $2,963.86.

Looking at the chart, the RSI indicator is also hovering close to its own support of 43.50, however if this strength turns to weakness, there could be an even bigger drop in ethereum’s price.

We will now likely see high levels of uncertainty this weekend, as both bulls and bears continue to jockey for positions.

Do you expect ETH to fall further this weekend? Leave your thoughts in the comments below.

eliman@bitcoin.com'
Eliman Dambell

Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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