Monat: Oktober 2022

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Shiba Inu continues to struggle. Here is what could happen next

  • Shiba Inu is consolidating amid bearish pressure

  • A delay in important network updates is holding back SHIB

  • The token is at a level of indecision and could trade either way

Shiba Inu SHIB/USD is locked in a consolidation, currently exchanging for $0.00001122. The price represents a dismal 1.4% increase in the past day. Significant fundamental developments are holding back the price of the canine-themed crypto.

Pressure is mounting over the official deployment of Shibarium. The developer, Unification, outlined the progress of the layer-2 platform last month without getting into the specifics. In the update, the developer said the advisory work was ongoing for the alpha and public testnets.

In other news, Shiba Eternity fans will have to wait longer for the card game. The P2E platform was expected to launch for Android and iOS on October 1. The ‘download day’ has moved to October 6. Aside from the delays, positive fundamentals lie in the SHIB trading volumes.

On October 2, the volumes surged 49%, according to data from EtherScan. The uptick was due to significant whale activities. Two deep-pocketed investors moved 200 billion and 100 billion SHIB tokens across multiple wallets. Despite the whales’ appetite, Shiba Inu remains subdued.

SHIB consolidates amid a downward momentum

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Source: TradingView

According to the daily chart above, SHIB is consolidating around $0.00001122. From the Fibonacci retracement levels, any potential uptrend could face immediate resistance at $0.00001286 (38.2%). $0.00001367 (50%) and $0.00001448 (61.8%) are the other levels to watch.

However, with RSI currently at 46, investors will have to wait longer for a trend reversal. The momentum indicator shows that more investors are selling than buying the meme token.

Concluding thoughts

SHIB is consolidating and facing two possibilities, a rally or a continuation of the downtrend. The RSI shows that the price could go lower before a reversal. In the second possibility, investors should be keen on the Fibonacci levels.

The post Shiba Inu continues to struggle. Here is what could happen next appeared first on CoinJournal.

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What to keep in mind when choosing a crypto casino to play

More and more people around the world have become interested in playing at online casinos in one way or another. This new surge in interest has been driven by many different things, such as the increased number of opportunities and the increase in time spent at home.

At the same time, cryptocurrencies have been gathering more and more attention from people. This is one thing that has also been noticed in the world of online casinos. Offering cryptocurrencies as a possible payment method for players is a good way to attract customers. This is often the reason why players choose a certain casino over another gaming site. 

Today, many crypto casinos in Finland have become popular, and the rest of the European countries follow very closely behind. In this article, we will introduce you to some things that you should consider and keep in mind when looking for a casino that allows you to play using cryptocurrencies.

Make sure that payments are successful in both directions with cryptocurrencies

Unfortunately, not all casinos allow withdrawals with cryptocurrencies, although deposits can be made with this particular payment method. That’s why it’s good to check that you can perform both payment procedures with the same currency. Fortunately, this is very easy to do. 

You just have to go to the part of the page that tells you about all the different payment methods. Here you can find information whether there’s support for cryptocurrencies as a payment method.

If you are especially a fan of bonuses, it is also good to make sure that the casino’s offers are available in cryptocurrencies. This is not always the practice, even if payments are made with cryptocurrencies. Thus, you would not be able to use the cryptocurrencies you want when you want to redeem the offer. So take this into account before you choose a particular game site that offers cryptocurrencies.

Ensure the cryptocurrency you want to use is accepted as a payment method

Even if the casino in question is advertised as a site that accepts different cryptocurrencies as payment, you should make sure that it accepts the exact currencies you want to use. 

Very often, the casino may only accept the well-known Bitcoin as a payment method, while other casinos offer the possibility to use up to 20 different cryptocurrencies. Bitcoin, Ethereum and Litecoin are the most common payment methods even in the world of online casinos.

Of course, this does not mean that they are the only possible cryptocurrencies. If a site offers many different cryptocurrencies as a payment method, information about this can often be found very easily. The sites may even mention it on the casino’s homepage. Thus, you will get information very quickly about whether you have enough options between different cryptocurrencies or not.

What is the selection of games at that casino?

This is definitely one of the most important things you should look into when choosing a crypto casino to play at. Too often, players may get excited by the offer of nice bonuses, and thus forget to stop and think about the basic reason for playing at casinos: playing games.

That is why it is very important to compare the selection of games offered by a few different online casinos. Maybe you are interested in playing different slot games, while others are excited by traditional live casino games. No matter what kind of player you are, you can definitely find a casino that suits you. Still, it is very important that you make sure of it in advance. 

That way, you can be sure that the casino’s selection of games will keep you entertained for a longer time, even if the bonus was used a long time ago.

Is the casino licensed?

This is also one of the things that is particularly important to take into account. Almost all countries in the world, where online gambling is legal, require the site to have some state or decision-making authority to check and regulate the operation of the online casino. In this way, it can be ensured that the site works reliably and fairly. 

Finland currently does not have a license like this, which is why most of the online casinos operating in Finland use other reliable licenses.

As in many other European Union countries, it is also very important in Finland that the casino has an EU or EEA country license. This means that then the player’s winnings will presumably not be taxed, which is of course important. In addition, this says a lot about the reliability of the site. There are many countries in the European Union that offer reliable licenses. One of the most famous and trusted options is the Malta Gaming Authority license offered by Malta.

The fact that you choose a casino that operates under a license is very important. This ensures that you choose a casino that operates in a safe and controlled manner. Thus, you can avoid the risks of cheating when you just want to have fun playing online. 

Unfortunately, there are some cases where crypto casinos have been scams, but this is exactly what we are trying to minimize with the help of licenses and by monitoring the site’s operation.

What is the user experience like on computers and mobile devices?

This is one thing that gets forgotten every now and then, but it’s very important to keep in mind. By making sure that the site works well on both a computer and a phone, you can be sure that it will remain comfortable to use for a longer period of time. 

When you want to have fun playing, you certainly don’t want to struggle with a site that doesn’t work properly on the device you want to use.

The post What to keep in mind when choosing a crypto casino to play appeared first on CoinJournal.

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Crypto fund flows suggest ‘continued investor hesitancy’: CoinShares

  • Crypto funds saw a third straight week of inbound investments last week. However, CoinShares’ James Butterfill says the low inflows suggest there’s “continued investor hesitancy.”

The crypto market has struggled to tag a positive sentiment, with September again proving a tricky month for bulls as prices remained largely within a long term downtrend going back to November 2021.

So while institutional investors continue to size up opportunities in the digital assets sector, flows into investment products have significantly remained low over the past few weeks.

James Butterfill, Head of Research at digital asset manager CoinShares, says the low inflows seen last week imply a “continued hesitancy” from investors.

Butterfill shared the outlook in the latest edition of the “Digital Asset Fund Flows Weekly Report”, which CoinShares published on Monday.

Crypto funds see third week of inflows

Fund outflows year-to-date are at more than $42 million, with the past three weeks seeing positive flows.

According to Butterfill, the low flows suggest institutional investors are still weighing up the market, particularly given the global macroeconomic environment.

“Digital asset investment products saw inflows totaling $10.3 million last week representing the third week of inflows. The flows remain low implying continued hesitancy amongst investors, this is highlighted in investment product trading volumes which were $886 million for the week, the lowest since October 2020,” Butterfill wrote.

Bitcoin recorded minor inflows for a third week in a row, with $7.7 million (short bitcoin saw inflows of $2.1 million). Meanwhile, Ethereum registered $5.6 million in inflows last week to post a second positive week – but short Ethereum products hit outflows of $0.9 million.

Across the altcoin market, negative sentiment saw investors pull $3.5 million. Top outflows were in Polygon, Cardano and Avalanche.

The post Crypto fund flows suggest ‘continued investor hesitancy’: CoinShares appeared first on CoinJournal.