Monat: Juli 2022

Veröffentlicht am

DASH is about to relinquish another support with $19 in focus

  • Dash blockchain enables online payments for over 10,000 digital merchants and retailers.

  • DASH has fallen by 2.25% in 24 hours, increasing weakness at a support.

  • Price could proceed to $19 if it fails recovery at $40.

DASH, the crypto token of blockchain platform Dash, is down 2.25% in the last 24 hours. The cryptocurrency has fallen by almost 75% this year. DASH still has more room to fall as most cryptocurrencies edge lower. 

Initially developed as a privacy-preserving blockchain, Dash evolved to streamline online commerce. The project’s code was copied from Litecoin. The protocol was meant to allow efficient and less costly payments than Bitcoin. The blockchain boosts 1-second transaction speeds. Currently, Dash is a payment partner for at least 10,000 online merchants. On its website, Dash mentions more than $4.48 billion payments volume in Q4 2021.

The growth of DeFi and digital transactions is a plus for DASH. However, DASH investors may have to put up with a bear market. This analysis finds that DASH could find the next support at $19.

DASH weakens further at the $40 support

Source – TradingView

DASH is deeply in the bear zone, as the MACD indicators show. The cryptocurrency is yet to cross above the 21-day moving average since November 2021. The current $40 price level is a support zone, but DASH is showing signs of breaking below. If the $40 fails to hold, DASH could settle at $19. The level coincides with the price it was back in 2017 before the bull run. Investors should consider buying lower after further declines in the token.

Summary

DASH holds onto the $40 support. However, bearish momentum is on, and the cryptocurrency could break below. The price of DASH could settle next at $19, a 5-year low. Investors should wait to buy at lower prices.

The post DASH is about to relinquish another support with $19 in focus appeared first on CoinJournal.

Veröffentlicht am

Should you buy Crypto.com token as price slides to support?

  • Crypto.com token CRO is bearish at a support zone.

  • CRO weakness is connected to the crypto market and slashed card rewards.

  • The cryptocurrency is almost 10 times below its all-time high.

Crypto.com’s token CRO/USD is barely worth $0.1. The price is a slap for a token that once traded almost at $1. At the current price, CRO trades at a support zone, and investors could be looking to add positions. But, should you buy it now?

We investigate the reasons why CRO has fallen substantially despite numerous sponsorship deals. The bearish crypto sentiment has, of course, been the main source of weakness. The weakness has been connected to actions by central banks to tighten policy. Yet again, on Wednesday, the US labor department reported an annual 9.1% jump in inflation. The increase was higher than estimates of 8.8%. CRO proceeded down after the inflation numbers, which stoked fears across all markets.

Another factor has been responsible for CRO declines in recent weeks. In early May, the crypto exchange announced a reduction of card rewards to customers. The move underlines similar actions taken by crypto firms to remain liquid in the current market. CRO crashed by double digits following the slashed rewards. The token is yet to recover as investors remain cautious. We believe with such developments, CRO is not a buy at the moment and could fall further.

CRO is close to the oversold bottom, but weakness is on

Source – TradingView

Technically, CRO is almost oversold, with an RSI reading of 35. However, the reading is insignificant considering the weak crypto fundamentals. From the daily chart, the cryptocurrency has remained below the 14-day and 21-day moving averages. At the current level, CRO is at a support zone, offering a potential bullish reversal. Nonetheless, the price is extremely bearish, and a further drop is imminent. 

Summary

Crypto.com token is under bear control as inflation numbers surpass estimates. The price sits at a support zone, but further declines are possible. We do not encourage a buy at the support.

The post Should you buy Crypto.com token as price slides to support? appeared first on CoinJournal.

Veröffentlicht am

WhaleFin seals major kit deal with Spanish soccer giant Atletico Madrid

  • WhaleFin logo will be on Atletico Madrid’s game kits starting in the 2022/2023 season.
  • The crypto platform’s parent company is the club’s Official Global and Main partner and also Digital Lifestyle partner.
  • WhaleFin recently sealed a partnership with English soccer giants Chelsea.

WhaleFin, the flagship digital asset platform of Amber Group, is the official kit sponsor of Atletico Madrid after a landmark five-year deal signed earlier this week.

The crypto platform’s logo will be on the front of the Spanish soccer giant’s games kits, according to an official announcement on the Madrid-based club’s website.

Official global partner and digital gateway

Atletico Madrid confirmed Amber Group is now the club’s Official Global and Main Partner, with their partnership starting in the upcoming 2022/2023 season. Amber Group will be the club’s Official Digital Wealth and Digital Lifestyle Partner.

The collaboration will see the crypto company help the soccer giant advance its digital finance innovation, as well as boost fan experience via metaverse initiatives.

Importantly, Amber Group and its crypto platform will be the fans’ digital asset gateway, with “exclusive rights to establish the club’s virtual island dubbed “Atletiverse.” Per the two companies, the metaverse project will be powered by Amber Group’s Web3 platform Openverse.

WhaleFin and the Atletico Madrid Foundation will also collaborate on sustainability and conservation programmes.

The deal with Atletico Madrid adds to the one Amber Group has with Premier League club Chelsea, which will see the WhaleFin logo displayed on the London-based club’s shirt sleeves. 

Teams across European soccer have inked major deals with crypto firms, including Manchester United with blockchain platform Tezos and Manchester City with OKX.

The post WhaleFin seals major kit deal with Spanish soccer giant Atletico Madrid appeared first on CoinJournal.

Veröffentlicht am

ZCash (ZEC) now available at Bitcoin of America ATMs

  • Zcash (ZEC) is fifth cryptocurrency coin Bitcoin of America offers at its crypto ATMs.
  • The company operates over 2,500 Bitcoin ATMs across the United States.
  • Coin ATM Radar data shows there are over 34,000 Bitcoin or crypto ATMs in the US.

ZCash, the decentralised cryptocurrency favoured by users for its privacy features, has been added to Bitcoin of America’s  Bitcoin ATMs across the United States.

The company, which operates more than 2,500 Bitcoin teller machines in the country, revealed this in an announcement on Wednesday.

The Bitcoin ATM firm noted that its customer demand has pushed it to add ZCash to the list of available cryptocurrencies.  The use of ZEC in transactions has apparently picked up, with the privacy coin now joining Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BTC).

For businesses looking to host a Bitcoin ATM with ZCash, the company offers to provide all the necessary support. That includes making it easy for interested parties to access the machines, it said in the announcement.

Benefits accrued for businesses include increased foot traffic, an opportunity to earn passive income, and overall marketing. Bitcoin of America takes care of all aspects of the BTMs, from maintenance to customer support.

US is home to thousands of crypto ATMs

According to Coin ATM Radar, there are over 34,200 Bitcoin ATMs or teller machines in the US, with Houston, Texas having over 1,200. Los Angeles, California has nearly 2,000 Bitcoin ATMs, while Miami has seen over 800 installations.

Bitcoin of America is the fourth largest crypto ATM operator in the US, statistics at Coin ATM Radar show. The operator currently accounts for 6.5% of the installed tellers, behind CoinFlip (11.2%), CoinCloud (17.4%) and Bitcoin Depot (19.9%).

The post ZCash (ZEC) now available at Bitcoin of America ATMs appeared first on CoinJournal.