Kategorie: Crypto Markets

• Cryptocurrencies traded largely lower today, with Bitcoin dipping to below $29k.
• BNB moved above XRP although bulls need to keep prices above $330 to keep bears at bay, otherwise it could dump to $220 or lower.
• Dogecoin spiked as Twitter rebranded to X. Can DOGE go higher?

Crypto news today has been dominated by headlines around the launch of Worldcoin (WLD) token and Elon Musk’s Twitter rebrand to X. Meanwhile, the broader crypto market has continued to see a slump for major altcoins, with Bitcoin hovering just above $29k following further weakness on Monday.

While analysts have outlined a potential upward flip after recent consolidation, regulatory uncertainty remains a big negative trigger. Also key this week could be the overall investor reaction to the Federal Reserve’s policy decision after their two-day meeting.

So, with these factors in perspective, what’s the price outlook for BNB and Dogecoin?

BNB price outlook: $330 key support level

BNB, the native coin of the Binance ecosystem, has overtaken XRP as the fourth largest crypto asset by market cap after the Ripple token slumped 6% on Monday. However, BNB price is also down (currently 2%) and trades below its 20-day EMA.

DOGE price outlook: Another push related to X?

Dogecoin (DOGE) price was an outlier of sorts today in the crypto markets. While all major altcoins dipped, the OG meme coin spiked by 10% to break above $0.075. 

As Elon Musk revealed Twitter’s rebranding to X, he put the DOGE symbol next to the X logo. 

$DOGE up almost 10% as Elon Musk adds Doge logo to his profile location pic.twitter.com/vDYn4KPzq3

— Dan Gambardello (@cryptorecruitr) July 24, 2023

Bulls took cue to push the coin higher and have succeeded in keeping it above the 20-day and 50-day EMA. 

This suggests potential upside moves are still likely, particularly in relation to news around DOGE adoption on X.

If bulls push higher, the area around $0.08 will be a key barrier that would need a convincing retest.  $0.09 and $0.11 could be the next bull targets. On the downside, a breakout below $0.07 could risk a dump to $0.057.

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Key takeaways

• Cryptocurrency projects raised $201 million from VC firms last week.

• Chancer’s presale is currently ongoing, and the project is close to hitting the $1 million mark. 

The cryptocurrency market is starting the week in a bearish manner. Bitcoin is down by more than 2% today and could experience further decline in the next few hours. At press time, the price of Bitcoin stands at $29,148 per coin.

However, Chancer’s presale continues to soar higher, with the team now close to hitting the $1 million mark.

Crypto projects raised $201M in a week

Bitcoin and other cryptocurrencies have been experiencing ranging markets since the start of the month. However, despite the market’s poor performance in July, cryptocurrency projects continue to set new records.

A report by CoinDesk revealed that cryptocurrency projects raised $201.4 million last week. The biggest earners in the market were projects that create developer tools for zero-knowledge proofs.

VC firms continue to invest in cryptocurrency projects despite the bear market, indicating that there is a strong belief about the future of the industry.

Chancer is gaining traction despite not going via the VC funding path at the moment. The team’s presale event is set to hit the $1 million mark, with more than 11 million tokens sold so far. 

What does this mean for Chancer?

Cryptocurrency projects raising huge amounts of money from VC firms is a clear indication that investors are willing to enter the market and invest in the right project.

Strong projects with excellent use cases will gain the attention of investors, both retail and institutional. 

Chancer is one of the exciting and new projects currently in the cryptocurrency space. Chancer is one of the projects that is gathering momentum amongst retail investors. 

The team is developing a unique Web3 peer-to-peer (P2P) custom betting platform that would make it possible for users to live-stream betting events. 

What Chancer seeks to achieve is to decentralise the betting industry. The platform is adopting a decentralised method of betting and online gambling. 

An excellent feature of Chancer is that, unlike traditional betting platforms, it doesn’t restrict its users’ betting opportunities. This means that Chancer users can bet on a wide range of events, beyond traditional sports and casino bets. 

The Chancer presale is in its first phase, and the team has raised $954,038.02 of the $1,000,000 required. In the first presale, CHANCER is selling for $0.01 USDT but will be increased to $0.011 in the second stage. 

The developers will use the funds raised from the various funding rounds to build a P2P betting platform. 

In their whitepaper, the Chancer team said they would grant users access to numerous features, including, betting markets in real-time and based on user interests, social media connections, and expertise. 

In addition to that, Chancer is looking to eliminate the problems associated with using bookmakers when betting by allowing users to set up their custom P2P betting markets. 

Perhaps the most important feature of Chancer is that it would allow users to bet on various activities. The bet can be on important sporting or political events or trivial ones like the first to complete a task amongst friends. 

CHANCER to go for $0.011 in the second presale stage

Chancer’s first presale stage will be completed soon, and the team will move to the second phase. In the first phase, the CHANCER token is currently going for $0.01 USDT. 

However, the team will increase the token price to $0.011 in the second presale round. The Chancer team will use the funds to develop its suite of products. There would be 12 presale events, with an accumulated target of $15 million. 

CHANCER will have numerous utilities within the Chancer ecosystem. CHANCER token holders will have the option of creating and investing in markets created by others. 

Furthermore, the token will allow holders to create, participate in, and profit from their very own predictive markets. 

At the moment, investors can purchase CHANCER tokens using numerous wallets, including, Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow. 

Visit the Chancer website to get more information about the presale. 

Should you invest in Chancer now?

As more investors enter the cryptocurrency market, the focus is on excellent projects still in their early stages. Chancer could become a big project in the cryptocurrency space due to its unique nature. 

By decentralising the betting ecosystem, Chancer could gain massive adoption within the Web3 space and beyond over the next few months and years. 

A surge in adoption of the Chancer platform could also lead to a rally by its native CHANCER token. Furthermore, if the broader cryptocurrency market embarks on a Bull Run, CHANCER could become one of the biggest winners. 

The post Crypto projects raised over $200M last week, with Chancer’s presale closing in on $1M appeared first on CoinJournal.

• Bitcoin price fell to lows of $29,000 across major exchanges as liquidations rose 203% in 24 hours.
• Total rekt positions was more than $150 million, with $124 million being longs.
• The volatility saw over 50,000 traders liquidated in the past 24 hours.

Bitcoin extended its decline beneath $30,000 on Monday as the total crypto market value dipped by 2% to just over $1.2 trillion.

As BTC price touched $29,000 across major exchanges – it fell to $28,978 on Bitstamp and $28,973 on Coinbase – data showed total crypto liquidations in the past 24 hours surpassed $150 million.

According to data from Coinglass, the 24-hour liquidation was double the figure recorded a day earlier. Indeed, total positions rekt in the period rose 203%, with longs accounting for the largest share at over $124 million. 

Shorts accounted for about $26 million to suggest that most of the 50,364 traders who were liquidated as of writing were longs.

BTC had the single largest liquidation order at $2.57 million on the OKX crypto exchange.

Just like Bitcoin, many altcoins extended recent declines as the market weakness ahead of the next FOMC meeting intensified. Ethereum fell to lows of $1,830 and XRP dipped to $0.69 as its market cap declined to allow BNB retake the fourth spot among large caps.

But as top altcoins stumbled on Monday, Dogecoin rose by more than 6% amid ELon Musk’s latest changes to the Twitter platform. Data shows $1.19 million in short liquidations hit DOGE traders.

The post Bitcoin touches $29k as liquidations hit $150 million appeared first on CoinJournal.

• World (WLD) price spiked 78% after its mainnet launch on Monday.
• The soaring prices also followed the listing of WLD on world’s largest crypto exchange by trading volume Binance.
• According to CoinGecko data, WLD price hit highs of $3.30 on major exchanges.

Worldcoin (WLD), the native utility token of the just launched Worldcoin cryptocurrency, soared to highs of $3.30 on Monday morning. This was after the world’s leading crypto exchange Binance announced support for the token.

CoinJournal reported on Worldcoin’s mainnet launch earlier today. [Read more].

Worldcoin price soars as Binance lists WLD for trading

At the time of writing, WLD was trading near $2.98 on major exchanges according to details from CoinGecko. Per the data, Worldcoin price was up 78% at the time, with more than $26.4 million in trading volume.

WLD tokens are currently tradable on several centralized crypto exchanges, including Binance, Bybit, KuCoin and Huobi. On Monday, shortly after the Worldcoin team announced the mainnet was live, Binance, the world’s largest crypto exchange by trading volume, added support for the native WLD token.

#Binance will list @worldcoin $WLD.

👉 https://t.co/WmsuRY8YJc pic.twitter.com/7Bja3w7kxF

— Binance (@binance) July 24, 2023

According to the exchange, spot trading for WLD/BTC and WLD/USDT pairs was to open at 09:00 UTC on July 24, with withdrawals expected to open on July 25 at 09:00 UTC.

Binance also added WLD as a new borrowable asset on the platform, with the new Isolated Margin pair WLD/USDT available 48 hours after 09:00 UTC on July 24.

Worldcoin’s debut on Binance and other exchanges comes as the broader crypto market tries to navigate the latest lull in momentum. Bitcoin price remains lodged in a tight range near $30k, while Ethereum fluctuates beneath $1,900. The global cryptocurrency market cap is down by about 1% as major altcoins like XRP, Cardano and Solana struggle to hold onto recent gains

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