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BTC could drop below $35k as bearish sentiment continues

The cryptocurrency market has performed poorly over the past 24 hours, with more than $100 billion wiped out during that period.

The bearish sentiment in the crypto market returned over the past 24 hours, with the market losing over $100 billion during that period. The broader crypto market is down by 6.85% in the last 24 hours, its biggest loss recorded in recent weeks.

At press time, the total cryptocurrency market cap stands around $1.67 trillion, down from the $1.79 trillion reported yesterday.

Bitcoin, the world’s largest cryptocurrency by market cap, is one of the poorest performers over the past 24 hours. BTC has lost more than 8% of its value during that period and now trades above the $36k level.

The bearish run could see Bitcoin drop below the $35k resistance level for the first time this month. As usual with the crypto market, Bitcoin’s poor performance has affected the other top cryptocurrencies.

All the cryptocurrencies in the top 100 list are trading in the red zone except Anchor Protocol, which is up by more than 6% in the last 24 hours.

Key levels to watch

The BTC/USD 4-hour chart is currently bearish as Bitcoin has lost more than 8% of its value recently. The technical indicators show that the bearish sentiment in the market remains strong.

The MACD line has slipped below the neutral zone thanks to Bitcoin’s ongoing poor performance. The 14-day RSI of 28 shows that Bitcoin is currently oversold. 

At press time, Bitcoin is trading at $35,901. If the bearish trend continues, BTC could slip below the $35k level for the first time in weeks. In the event of an extended poor performance, Bitcoin could be forced to defend the second major resistance level around $33,800. 

The post BTC could drop below $35k as bearish sentiment continues appeared first on Coin Journal.

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Project Galaxy coin rises on multiple listings: here’s where to buy Project Galaxy

FTX, KuCoin, and a few other leading exchanges recently listed Project Galaxy. What’s more, Binance announced a promotion, starting today and running until May 13. 

All users who accumulate a net deposit of at least 50 GAL, the native token of Project Galaxy, or trade at least 35 GAL across the eligible GAL spot trading pairs will share a prize pool of $60,000 in GAL token vouchers. 

The token added almost 10% to its value today. If you are attracted to unique features and want to learn how and where to buy Project Galaxy, this guide is for you. 

Top places to buy Project Galaxy now

FTX

FTX is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. We strive to develop a platform robust enough for professional trading firms and intuitive enough for first-time users.

Buy GAL with FTX today

What is Project Galaxy?

Project Galaxy is one of the leading Web3 credential data networks. Built on open and collaborative infrastructure, Project Galaxy helps Web3 developers and projects leverage digital credential data and NFTs to build better products and communities.

Project Galaxy provides the infrastructure for community members to curate and contribute digital credentials to the Galaxy Credential Data Network. The infrastructure supports curating credentials through multiple data sources. 

Should I buy Project Galaxy today?

Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never make any decisions affecting your finances before an in-depth market analysis. Don’t invest more than you can afford to lose. 

Project Galaxy price prediction

Digital Coin Price predicts serious growth from the current $15.75. Its forecast is below:  

  • 2022: $20 – $22.42
  • 2023: $21.61 – $26
  • 2024: $20.11 – $29.64
  • 2025: $28.12 – $35.60

Project Galaxy on social media

The post Project Galaxy coin rises on multiple listings: here’s where to buy Project Galaxy appeared first on Coin Journal.

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Iconic rapper Ice Cube joins the Dogecoin bandwagon

Ice Cube (O’Shea Jackson Sr), an iconic rapper, has joined the Dogecoin bandwagon endorsing an “incredible and historical” DOGE transaction. His entry into the Dogecoin world is closely related to the BIG3, a basketball league he co-founded. 

BIG3 features former NBA stars in a three-on-three formation as opposed to the usual five-on-five basketball games.

Last month, BIG3 launched a new ownership league model which allows each of the 12 teams to sell their tokenized stakes. Each team is allocated 1000 Non-Fungible Tokens (NFTs) that is, 975 ‘’Gold’’ NFTs worth $5,000 each, and 25 ‘’Fire’’ NFTs at $25,000 each.

On Wednesday, Bill Lee, MyDoge wallet co-founder, tweeted to Ice Cube “if ya dig DOGE, me and the DogeArmy will take one as well,” referring to Ice Cube’s previous post that Snoop Dogg was purchasing two teams.

Replying to Lee, Ice Cube tweeted “come on wit it Bill, you know i’m down with the DogeArmy.”

Although it’s not clear how serious Ice Cube is with the DogeArmy, BIG3 on the same day announced in a press release that Lee bought all the 25 ‘’Fire’’ NFTs worth $650,000 (4.86 million DOGE) for the ‘’Alien’’ team using DOGE.

Ice Cube described this as an ‘’incredible and historical ‘’ transaction while BIG3 called it the “largest commercial transaction in history” of DOGE.

The ‘’Fire’’ NFTs signify utility benefits and the higher end of ownership like voting rights, names, game management, merchandise, and licensing rights for team logos or voting rights and intellectual property. Additionally, if the owner sells their ‘’Fire’’ NFT, they get a 40% sale cut-off.

In an announcement, Lee also delved into the NFT projects slightly saying:

“While others are buying NFT images of apes and owls, I believe that NFTs with utility are the next frontier. It is a dream to own a basketball team and the BIG3 is shifting the NFT game by offering ownership rights such as licensing/IP, team voting/management, and merchandising.”

The post Iconic rapper Ice Cube joins the Dogecoin bandwagon appeared first on Coin Journal.